We had a fire claim recently that wasn't a total loss but we had it insured for replacement cost and was able to get the repairs done much cheaper than insurance paid.

It is best that you consult with your CPA soon to discuss the specifics of any tax credits that may be available to you, and how to go about claiming deductions for capital loss.

Buy the property under your name and make sure your lender will allow you to quit claim deed.

I have used them to sell some of my dog OREO.. usually pretty low end stuff from what I have a seen and a lot of sellers that just want to give you quit claim deeds.

There is no time limitation or past transactions required, but such can certainly strengthen your claims as to personal relationships if you do have that history.This is why solicitations for money or to provide money is so tricky and both are regulated.

The purchaser of the property should still be concerned about these liens as those that survive the tax sale process may still make claims against the property. 

The other way to check is to check out the Alabama county court records and dig through the paperwork (if you live around there obviously)Deed Assigned at Foreclosure to: After the expiration of three years from the date of the sale of any real estate for taxes, the judge of probate then in office must execute and deliver to the purchaser ... a deed to each lot or parcel of real estate sold to the purchaser and remaining unredeemed ... and such deed shall convey to and vest in the grantee all the right, title, interest and estate of the person whose duty it was to pay the taxes on such real estate and the lien and claim of the state and county thereto, but it shall not convey the right, title or interest of any reversioner or remainderman therein.

You’d have to be a national CPA, Insurance Agent, and Lawyer to even begin to offer advice here, I will not claim be.

5) The wholesaler I've been working with (New Western Acquisitions) claims he has never seen a deal come through that meets the 70% rule, should I avoid working with them in that case?

Leigh Ann,After financing is completed and you close on the property you quit claim into the LLC.