have them sign a PSA first or open escrow with my preferred title company first?

Thank you for the tag brother.Hey @Randall Owens - I would love to connect and hear more about your project. 

A common trap to fall into is seeing a nicely renovated house at a reasonable price tag.

Is all of the paperwork and title correct?  

Seller agent disclosed today that the seller is filing for bankruptcy.I am already in escrow.Besides the checks that the title company will do, is there any additional steps I should take to make sure that this house is not subject to repossession by any creditors?

Your QI for the 1031 takes title to the property before you. 

I am tagging someone that has a lot of experience in cheaper units.  

Possible, yes, but you'll be looking at $5k-$6k in lender fees plus title fees, prepaids and escrows and a higher rate. $75k is a little easier to find and slightly lower rates/fees. 

There is of course the agents, the brokers, the mortgage and lending side, the title companies but also the whole construction side would be part of real estate.

I have a mortgage (2.5M) on a residential property located in the state of HI, titled in my personal name.