My personal loan will be paid off in 5 years.After I took out the personal loan and used it to buy the property out right, I had 60k in equity in the house.

My personal loan will be paid off in 5 years.After I took out the personal loan and used it to buy the property out right, I had 60k in equity in the house.

Theres also a royalty program for bringing other KW agents into the fold, you get paid every time they get a commission, it would take an in depth explanation.

Should I be getting pre-approved for a loan already in case it works out?

Midland has sent the original owner a paid in full letter. 

They paid 6 month rent ahead time, now 6 month passed and they cant make payment. 

He was showing me the properties he bought there (all SFH) and many were nice (one that stood out was a brick house he paid around 40K for; I forget the monthly rent but I remember being impressed).  

All parties have to be identified but we always prepare notices to be handed out at closing to avoid any possibility of a listing broker from using that info to their advantage.Most standard MLS contracts will have pre printed addendums or check the boxes to give parties the option to do 1031s without requiring a separate addendum that reveals your hand. 

They have always paid on time and want to stay there for another two years with a new lease option and hopefully qualify by then.

The only strategy I have seen so far, and I forget who provided it, was to try and clear as much debt as possible on single family homes and pre-qualify for HELOCs of other lines of credit to be able to start buying at the downside of the cycle.One person mentioned in a facebook group I am in, essentially, "don't worry about it, just hold everything tight and wait it out, it will correct itself."