(No offense to any attorney, LOL) I'd back track on that if possible telling her she can see a RE attorney but the closing agent will explain the transaction.edited, just saw your last post; get your fee, give him a receipt for the assignment, this is an amount paid out of closing to be shown on the buyer's side of the HUD-1 or accounting settlement.

If there are any experienced investors looking for the right young man to mentor, I’m a motivated, capable student, willing to accept both constructive criticism and encouragement.

The 1% is BS; however, that is just because I don't keep track of such things.

Because of the nature of his job, he may be more likely to track dirt and store tools in your unit.

banks just don't like lending to LLC's unless they have a track record of success as well as member owners that can qualify.Try to sell them on an ARM. even if it's a massive joke in interest it's better than losing the property.

The long term solution would be to monitor your P&L for your business monthly to ensure you're on track of where you need to be to qualify for what you're looking for.

Make sure property manager is working diligently with you or it might be worth looking for a more competent firm to manage your property and help you get back on track financially...

I think the best chance an investor has at purchasing something without using their own money is to show a track record of success.If you have not done any deals up until this point I recommend making some purchases using your money so you can show potential investors that you know what your doing.Everyone needs to bring something to the table whether it be money, knowledge, experience, existing systems etc.

These loans are primarily for flipping, getting in and out.Your financing expenses would be too much trying to use HMLs for long term holds trying to refinance repeatedly.HMLs don't really underwrite the credit side, they rely on equity in the deal as to their security position, they loan more like 60-70% of a purchase price, some go with the after repair value that gets closer to a purchase price but they want to know your experience in doing repairs and track record.

at thispoint he is not near close to capable of living on his own] He will receive [I think] 15 to 20 thousand in back pay.