The wet signed physical piece of paper is the actual collateral for this deal. 

So, I may have to find out who this person is or simply go to closing and be prepared to deal with this occupant.On the other hand the bank is having trouble providing the legal corporation paper work required by my title company. here is the latest email from Title to Bank: “Please have the seller (the  bank) contact their attorney to provide the needed paperwork.

We do offer bank statement HELOCs for business owners who don't show income on paper but can show revenue coming in(bank statements), doesn't sound like that applies here.Freddie Mac allows for assets to be counted as income, 70% of total divided by 240.

Trying to help as best I can as they are all trying to do this on paper and I'm trying to be patient and help. 

Buy $100 stock (or whatever paper you want to buy), you pay $100k for it. 

As it is I'm left, on paper,  responsible for almost $1000 of the current mortgage and can't qualify for enough to buy what I'm looking for

So on paper, a 12% management fee would lose us business because my competition is charging 8% but still doing mark ups. 

For 2019 and 2020 I am not too concerned as all of my K-1s still show a paper loss, but 2021 will probably start showing some gains and potentially an exit.

These subto transactions from my understanding are pretty much paper assumptions, with little equity and a complete exposure to physical risk, original buyer risk, and lender risk.

But what looks great on paper and what happens in reality are two very different things.