I'd rather own more properties than tie up my capital in a property.So, I'm curious as to other's thoughts on the topic.

Because if you're using your VA loan to purchase this property you have to occupy it with 60 days of closing and remain in occupation for at least 365 days.

You think that if you wholesale, all the risk will pass to your buyer and you can just get checks for tying up properties...

The addendum stipulates that Frank's lease is tied to Todd's.

Your primary LLC always remain the same.Consult an attorney or a CPA for detailed information.

Only the entire lease can be terminated.If one of the two roommates wants out then that entire lease is terminated and the remaining roommate applies on their own.

I would like to keep the house, but I’m not sure if is a deal :( The mortgage company says that the remaining loan is $93,566.17, and they are behind 16 payments.

Reason being is that credit score it tied to 'last activity'.

The terms, I/O are okay in a commercial loan, but not a good idea unless you can pay it down for a loan at any time, don't think appreciation will get your LTV there.Make sure you run it by an attorney and ensure the "use of funds" remains for a commercial purpose. :)

He said he would be willing to sell it for $200k which is also the value of the remaining lien on the property.