I would be extra cautious to avoid being scammed.Make sure that the property is owned by the LLC and not by him personally.Also, occasionally ask for some sort of profit / loss report to show how the investment is performing.Best of luck

This will be owner-occupied however I was told a conventional loan would be best because I have a business (sole proprietorship) that reports a net loss for last year and this will lower my income if I go with a FHA loan.

Essentially, you introduce yourself as the new owner, provide them instructions for paying rent to you instead of the old owner, and tell them how they can contact you to report maintenance (set boundaries).

They are consistently rated #1 and #2 by Consumer Reports via about 200,000 questionnaires filled out by homeowners who subscribe to Consumer Reports.They are also the most expensive insurance carriers….but like I said, you get what you pay for.Hope this helps,Ken

If you don't have a condition report then I would be inclined to return the entire SD. 

I have a 2-unit rental property and my tenants in one unit reported a clogged toilet.

I've been approved for substantially bigger loans, with less reported income & was shocked. 

Here is a link to the Bigger Pockets Calculator Report: https://www.biggerpockets.com/...What drew me to this is the fact that 1.

Turns out there is a lack of any tradesman in this area (plumbers, electricians, handymen and etc), resulting in lots of time spent trying to resolve issues when tenants report them. 

It’s a stretch to even call the buildings habitable but his agent told him all the inspection report items were no big deal and he believed him.