Protection from the Financing Owners bad decisions/situations

[Lori Lloyd]

With the market shift on the horizon I expect we will begin to see more sellers show interest in Owner Financing as an option. I've found that nearly all attorneys in my area warn strongly against it (most will not even touch it!) due to the dangers to the Buyer if the Seller runs into financial distress and the property ends up on their list assets in a court proceeding. Wondering if having the Sellers place the property under an LLC before going to contract with Buyer would protect it? Buyer would then contract with the LLC. Has anyone here done this? Or what other methods exist to protect the Buyer?