I would hire an attorney to do the transfer of title for I figure a few thousand dollars at most.Any other observations about how to proceed to possibly agree on a fair price and buy this home, so that all feel good about the transaction?

Most of them only have a few rentals and with Relay they can have 18 checking and 2 savings accounts so it is easy to set up each property on its own bank account, each flip on its own bank account, and have an operating account for overhead or to disburse funds to from other accounts.Then you can set up auto transfers so if you receive rent, you can tell 10% to go to Savings for Capex/Maintenance, and 20% for Operations, then leave the rest in that account for the mortgage.

This is fine if we choose to sell after the renovation without ever having transferred into an LLC or other ownership vehicle given we would need to pay capital gains tax anyways.

Also, transferring funds from one Baselane account to another Baselane accout or an external account is very easy and the external transfers are typically very quick (1-2) business days.  

Were the transfers from the tenant credit card or ACH transactions. 

Also, some jurisdictions reassess on sale, others don’t unless major improvements are done so you'd want to check with your county's tax assessor’s office before making moves.Lastly, keep in mind the legal and loan implications of transferring to an LLC  especially if there’s a mortgage involved due-on-sale clause risk.Hope this helps, anyone else here tried this strategy or challenged their tax assessment?

I'm curious to try them out for at least one owner occupied client transaction to see how they work at transferring the loan, forms they file, required contract wording, etc. 

Just be prepared for more detailed inspections and some red tape around rent increases.

If you are doing a decent amount of business, you may get some flexibility on pricing, terms and products, but the relationship is more about them being readily available to push your stuff through faster and with less red tape when they see that you can perform and you don't make their lives miserable.  

You must hold the property over one year from the deed transfer date to qualify for long-term capital gains treatment (lower tax rate).Even though you invested in the tax lien earlier, the IRS doesn’t consider your holding period to begin until you gain full ownership through a tax deed.