Most people have the app nowadays and it's extremely convenient to transfer the funds into your bank account.

And its why the banks have alienation clause in the first place for these events of default.

@Chris Seveney, So you have a different LLC for each state do you have them as their own separate entity with their own bank accounts and everything or do you have them owned by a trust or an S corp?

I believe it is a PNC bank building?

They said the bank was going to give them money for Cash 4 Keys but they never got around to getting all their stuff out of the property to get the money from the bank. 

Not much luck on the MLS...Anyway, I was at a BBQ last week and met a real estate investor from Louisiana and he said to try calling around to local banks and getting on a distribution list for their REO properties.  

Will Glaeser Lenders want to have your income (tax return, pay stubs, w2), credit, experience, bank account, LLC operating agreement, purchase agreement, scope of work, market comps, property evaluation, exit strategy.

From what I have seen, it is rare that banks deal with income property and know how to calculate the numbers for it.

If she went to Assisted Living - I can help you but it's only KS Specific - each state is different but I'm guessing some of the guidelines carry across states in regards to how she will pay for the ALF and eligibility for Medicaid and Home and Community Based Services (which is a medicaid program that would help pay for ALF)Anyways in KS - in for someone to qualify for HCBS/Medicaid to help pay for their care either in the  home or assisted living - you need to have less than $2k in assets - and consistently less than $2k in the bank - there is also something called a 5 year lookback period - I do not 100% understand how the lookback period works but will soon enough.So - as far as the assets are concerned - if your friends mother has the house and any savings there is no way the govt will be paying for most of her stay in ALF - and I also think it would be difficult to house her in an ALF facility for $3k per month - can be done but tough - Due to no estate planning the family needs to decide on what they are going to do - they will either need to sell the house now and just pay her money down at the private pay rate in a facility until she "runs out of money" then apply for Medicaid and go from there or see if the strategy of renting the house with her present income will be enough to cover the facility she's staying at.Individually the systems are simple however there are so many moving parts to Medicaid HCBS I've discovered in my time as owner of a facility I can 100% understand the families frustrations. 

I'm a retired Navy Officer and Iraq Vet looking for advice on which local CNY banks are the most motivated to work with somewhat blemished financial backgrounds.