Some are given as the first step of eviction for non-compliance of rental terms.

Unfortunately for us, code compliance steps in and forces us to have disposers.

If the exterior paint truly has alligated to the point that it needs to be completely physically removed... that's a very involved process that requires a lot of hand labor and some specialized tools - ESPECIALLY if you're going to do the project in compliance with EPA regulations.This process is, in fact, so time-and-labor consuming that it can be a heckuva lot cheaper to simply remove the exterior siding and re-clad with new siding.Unless there's some specific reason (historic siding, for example) that makes you want to retain the old siding... alligated paint is just a bear of a job.And just to help the matter, here's a good image of alligated paint -http://www.benjaminmoore.com/en-us/for-your-home/alligatoring

I've devoured the podcasts and read a couple dozen real estate books already.I feel like I've learned a ton but I'm still not quite ready to pull the trigger on my first deal so in the meantime I'd love to connect with some local investors and those of you across the country.Thank you all who actively contribute!

I would advise you look at a few more deals before pulling the trigger on this one.

Daniel,So, now you are saying that the above notifications will or possibly could trigger an adverse effect from the bank?

Say for example and over zealous investor or someone who thought themselves a big shot, but skipped out on basic due diligence, market research, and investors basics before pulling the trigger on 'that property'.

I am guessing using an escrow company will take care of the year end tax documents or any other compliance issues?

Sometimes there are lenders who are hesitant to lend to a LLC specifically and buying them in your personal name and transferring them could trigger a due on sale clause.Not sure why you would be running into any problems since it really shouldn't be any concern to your lender and if Schwab doesn't want to lend you have a lot of other options.If you are taking out a HELOC on your primary residence to buy property free and clear property in a LLC that should be fine.

Since the exemption is limited to $1,000,000 within any12-month period, issuers might find that the up-front compliance cost is too great to make the exemption practical.