Having completed over seventy exchanges, we know that just identifying potential properties during the identification period can be risky.

Then, following the metes and bounds, it says this:The company is prohibited from insuring the area or quantity of the land described herein Any statement in the above legal description of the area or quantity of land is not a representation that such area or quantity is correct, but is made only for informational and/or identification purposes and does not override item 2 of Schedule B hereof.Am I right to be alarmed?

Based on my understanding of the current market & opportunities seen so far, it's somewhat challenging to find really good deals (for instance, approaching the 1% rule), but I know my channels (roofstock, zillow) can be limited & I can do better in terms of opportunity screening / identification.

To have a valid contract, you need proper identification of both parties. 

To succeed there is a lot of nuance to how you go about it, but it is a great practice run on straight identification of homes for the future.

In addition, the rule contains two additional special exclusions from the compensation, steering, qualification, and identification provisions for certain seller financers.

Seattle has some very specific ordinances about what is considered acceptable forms of identifications,   and IIRC lack of presence of an SSN by itself isn't necessarily enough to deny without risking fair housing complaints.  

In effect, we use the purchase price as the “V” in LTV, but we don’t say it like that.On a greater concern, I hope you’re not using the assessor’s value to determine the value of the property and therefore, the safety of your loan.

He should have a green card with a taxpayer identification number that you can run.

@Rosie Geller let me start of by saying I was in IT including live broadcasting of International tennis tournaments, so I have experience in security and security cameras.The problem with using security cameras are:- the resolution at night usually isn’t good enough to make identification unless you buy REALLY good cameras which will cost more then the AC unit you lost.- even if you get an alert, the response time of police isn’t fast enough and your equipment is long gone.