It’s too much work.For instance, This property was bought for $5,000 (Five Thousand Dollars).Click on images to enlarge Purchase & Sale Agreement (many more examples available).This is an example of how the numbers workThere are hundreds of people doing these every day around the country.My experience is the best place to focus on these are the typical places.

If you want a cash out refinance to use the rehab costs you are required to wait 12 months https://guide.freddiemac.com/app/guide/section/4301.5  Fannie is the sameGuide Section 4203.4 for Loan Product Advisor Loan to value is lower.

Sale price: $195,000 The perfect cosmetic property.

Would you recommend making the sale contingent on the tenant leaving at the end of 90 days (or the seller getting tenant out sooner (eg cash for keys), and returning the unit broom ready, OR in the interest of moving forward would you negotiate a holdback in case eviction is necessary and to cover paint, repairs from wear and tear and carpet replacement, cleaning etc?

If all they can find is the property in the LLC, it may not be worth the additional hassle of trying to force a sale of the property to collect on their judgment.So, they’ll research who owns the LLC and what assets that individual has.

As we have our own crew, we are hiring our guys on the books for liability and so we can show proper cost basis for sale.

If anyone has any property management questions go ahead, shot and post them on here and we will do our best to give you our advice... you don't have to be local... if you have a question post it here or DM us (we're easy) and we will do our best to answer it and don't worry this is not a sales gimmick, we are simply providing answers in the hopes of earning your review. 

Seems to be an equitable structure and they delivery a nice product. 

Estate sale put in a bid against several other investors How did you finance this deal?

.- Current tenant's history/profile - Public record information pertaining to complaints, open permits, liens, etc. against the property- Current Zoning of the property and surrounding similar-sized lots- Sales comps- Market stats i.e. average days on market for sales and rentals, vacancy rate- Rental comps including price per square foot (ppsf) reports for recent rentals ..