This will let the lender think that the sellers are still involved, but in the event of an insurance claim, they will receive nothing because they don't have an interest in the property. 2.

I know this because I have one LLC with my wife for one property, and then other properties in another LLC that is just me...so I need to stroke the annual tax prep check for the one LLC that my wife is involved in in addition to the other tax preparations.

Thanks @Jay Hinrichs I wouldn't' consider this a whopper in terms of total profit but in terms of effort involved it certainly was lol.

The former landlords were a retired couple who didn't seem to do things by the books so the lease is quite confusing and I'm hoping for some help..The pertinent line item of the lease reads as follows: "Month-to-Month Tenancy: This agreement may be terminated by mutual consent of the parties or by either party giving written notice at least 60 days prior to the end of any monthly period.

@Isaac Pokojni & @Jonathan Arcay any agreement between buyer and seller does not have any impact on the insurance policy.The only parties the insurance carrier can pay are those listed parties on the policy.

and that's when I realized I really enjoy anything involving homes and that I wanted to be involved in real estate somehow for the rest of my life.I'm looking forward to meeting other people who are just as passionate! 

The title co.s can tell you what you need to do to get marketable title.....likely involves a waiting time requirement and/or a quiet title action.

Buying with cash also allows investors to buy heavily distressed assets that would not otherwise qualify to residential or commercial financing.The con involved in paying cash is you greatly limit your buying power.

Good post.The tough part is that idle cash and a war chest strategy can be costly. 

If so, here's how you can fight...Demand that real estate agents and, especially, brokerages you hire do not syndicate your properties to third-party sites like Trulia and Zillow.