Question is, to get approved for a loan what are the requirements?

Your lender will require this for major expenses like roofing, asphalt, hvac, appliances, etc.Rehab costs would be if the property needs work when you purchase.

Auction.com is hired by banks to sell assets to highest bidder through quasi on line auctions.in some states LIke Alabama they are actually the criers at the public court house auction.. if not sold there then those assets are brought into the loss mit departments then listed with auction to be sold on line at some point in the future.I like it as they require actual money to buy this stuff as in you need healthy deposits and REAL POF's and you can't assign contracts etc.. so it mitigates competition with the no money wholesalers that are out there by the millions  LOL.. 

@Ulises Rodriguez your friends lender is requiring it to assess the financial and status of the HOA that the condo is in.

I have yet to see anything put out by those 3 gurus that is current with the new requirements of seller financing or options, so you can take much of those old ploys in their material and heat hot dogs in a bond fire!

Although the property I mentioned above is in a perfect location the numbers didn't work as the building has been neglected for so long now requires a complete overhaul.

For a quick answer, I think typically they require you to season your rentals for about six months and the percentage is generally 70 to 80%.

Based on where the properties I have purchased are located (PA) I would be required to pay a significant transfer tax to move them into the LLC at this point.  

If you need to take them to court a SSN is not required.

I guess it could go the JV route, but wouldn't that require shared ownership?