Originally posted by @Katie Valladao:i want to schedule a call with them for the $150 fee to get the roadmap, but what is the $10,000 price tag mentioned above for?

After suing Farmers Insurance for 7 years and having to hire an attorney to deal with a title claim that the underwriter's counsel admitted was a valid claim, I know of what I speak. 

Most conventional lenders do not let you take title in an LLC. 

To date, we've cleaned up the title issues, maintained the land/property, and worked with the City of Kansas City to determine a new highest and best use based on the revised Midtown Plaza Area Plan.

I am also eligible for the Section 121 exclusion for this transaction.I received two 1099-S forms from the title company: one reporting the cash proceeds (box 2 for Gross Proceeds) and the other showing no amount in box 2 but with box 4 checked, indicating the transaction involved a 1031 exchange.

@Samuel Hopkins,Talk to some more title companies. 

Same thing can be said for a loan officer, title insurance, attorneys, etc.  

You’ll also need owner and lender's title insurance as well as the standard fire and liability coverage, which I assume you already buy.

Probate is public, requires paperwork, and changing of the Title/Deeds. 

Hi Dilini, I would not recommend starting renovation until you take title to the property.