In fact, we had to walk on a deal for this very reason, because the sellers had let the electricity be shut off, and the municipal power board wouldn't reconnect without a full electrical upgrade (wiring, panel, proper number of outlets, counter outlets, etc).

But I would appreciate insight from those who may have done this or something similar in the past.MikeYou may need a limited power of attorney to communicate with the bank and for insurance matters.If you are on title as the trustee, you can sell the property, if those powers are granted in the trust document.Most institution lenders typically won't lend to a trust if you want to refinance.  

Of course, get all the documents that go with putting a property in a land trust: the deed, the trust document that does NOT get filed, limited power of attorney, release of information authorization, assignment of beneficial interest, and most importantly get the sellers NEW address and their phone number in case you need to contact them in the future.C I have never used a servicing company to accept payments for my properties, but then again, I dont have that many.

Any interest compounds over the life of the reverse mortgage until repayment occurs.As the loan progresses, your debt increases while your home equity decreases.

A deed to real property does not evaporate when the news gets into hype mode over the small economy of a country 1/2 world away.Leverage is a powerful component of IRA investments into real estate.  

No matter what you decide, educate yourself using this site, as knowledge is the true power in real estate investing.

Welcome to the site @Christopher Powers BP is all you need to learn all about real estate investing!

I'd recommend joining Coldwell Banker powered by Zip.

Let the money sit and accrue compound interest at a fixed rate, multiple times per year.

Jerry Powers I have a pro account as well, but they do not give me 5% off because of that :))) but they give me discounts when I use HD credit card or competitors coupons By the way as a member of a local REI group we have 20% off for all painting in HD and 40% off at Sherwin-Williams paint.