I really see the farm going the more agritourism route than just growing veggies.So, I think the next step is to have the land surveyed so I can create a legal description and sign a legitimate sales agreement .

The title company might also know about any legal avenues to proceed with releasing funds.

Also a fee for garbage, accounting/legal fees, repairs and maintenance.

hi, make sure the seller signs the agreement. make sure it’s legal whatever you are doing. do whatever the escrow company says. make sure you get paid! 

It's primarily a legal protection vehicle and should be advised upon by a lawyer in most circumstances.

This often only works with large properties where you are raising north of $1mm in equity, otherwise the legal fees eat up too much of the overall deal to make it worthwhile for anyone.  

*I am not a CPA, tax professional or a lawyer*I cannot give legal advice, so all of my advice is illegal advice.As far as I know, section 469 of the tax code is what allows for the "STR loophole". 

What legal options do you have, if something goes wrong?

They'll be all sorts of SIGNIFICANTLY EXTRA tenant complaints!

There are other ways to legally wholesale without a license as well.