@Pedro RodriguezHere is a couple of scenarios that I like to use to explain the difference between ROI and Cash on Cash Return.FIRST, both are Returns.

@Jay Hinrichs - 😁 hope all is going well for you.Like you I don't do seconds Mike,,  I know the BK judges have ultimate authority.. but did not realize stripping the seconds was common or very common.. what I see on huds were I am doing new originations of distressed assets is the second taking 2k to 5k when they were owed 50 to 100k.. so I know the loss's are real in seconds ergo not for me.. 

Hi there,We have an interesting scenario. 

In fact we tweaked some things, and instead of them (the city) being adamantly against it they got on board and actually helped with the project.Here's my personal & professional advice - talk to the individual first & foremost and find common ground. 

That's not how I wish to make a living.Your mileage may vary ....this is rampant in the subprime markets .. were seller carry back is just a glorified rental.. and very very common in TEXAS with non english speaking.. from what i have seen.. or in other areas with credit challenged or income challenged folks.

That is definitely an interesting scenario. 

If there were any potential baggage, I don't think they would be able to do anything against a terminated LLC.BUT, in a scenario where the LLC was sold to new Owners and the baggage made a claim on that LLC, the new owners of that LLC may want to sue Kristen personally if it was for something like Gross Negligence?

@Fred Gonzalo The MLO who work on your file have  information about your loan scenario.

Worst case scenario you can still either give the house back, sell it, try to refinance it, or find hard money as a stopgap.Insurance:   Since the insurance has the original owners name on file, wouldn't any check that results from a claim be sent to them instead of you? 

A home without a garage is going to narrow your field of buyers, unless its common to the area.