Has anyone else been in a similar position or have recommendations on how to set up the deed for a smooth transition of ownership?

Amount set by law there.

Becoming a mortgage lender is appealing to me and seems like it could be a good fit for my skill set (i.e. detail oriented, wanting to help people, enjoying working with numbers).For the mortgage lenders out there, what do you love most about your job and what maybe isn't so great about the role?

Consider a New Shower CurtainInstant Refresh: - Choose a new, stylish shower curtain to set the tone

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What are things we should keep in mind locating and setting up a STR in Philly.  

These type of assets are not appropriate for this type of set up the ONLY investors that make these work are locals who do this for a living working collecting rent in the poorest neighborhoods of the US.

The prepay covers the cost a lender has in setting up a loan (anywhere from $9000- 13000 in processing/vendors/salaries/overhead...).

look at other str's on air bnb in your market and try to make yours a little better. get a hot tub on site and you would be set for some great cash flow!

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Wishing you the best!