A compliance management system requires written Policy and Procedure Manuals, an Underwriting Manual, a formal employee training program (even if you are the only employee) and a set up to audit the success or failure of the program.There are other solutions that consultants like ours (we are a consultancy on manufactured housing chattel finance) have developed for smaller operators that do not necessarily involve all of this.You don't have to like it (I certainly don't) but the government has seriously gotten into our face and they cannot be hidden from or ignored.

This isn't legal advice so consult an attorney.

Thanks for sharing about your process with the consultants and about honing in on what BP can do best.

But you're right this is their job and I need to be more efficient.But just to clarify your point a little, I'm not looking to get an AOT from the current owners, just from the previous owners whose names match the judgment entries in the report (again, a common name so I'm sure it's not them).But again, I will take your advise and consult the title co. on this.

You may want to consult a real estate attorney to see if there is anyway around this requirement or you could simply switch hats for this deal and become the investor (1 transaction) rather than the wholesaler (double close).

Are their consultants or companies that specialize in this?

Folks are glad to pay $ for consulting (on an hourly basis) than ever before.

I recommend consulting the SF Tenants Union website.

You might be able to quickly run the situation by a few attorneys for free and get their opinion as to whether or not its even worth spending $200 for an initial consultation.

Doesn't sound as though the work was inspected.Little thought was given to the potential tenant pool.Sounds likely there may be issues with the lease agreement.Clearly financing / refinancing was not thought out.This was a very very short buy and hold - there may be tax implications the investor hasn't counted on as well.All in all it seems this individual went into this without any consultation, planning or understanding.