As for all the speculation on the EMD, you all are guessing wrong here.

Of course it's pure speculation on his part but he's a 40-year resident of Durham with a lot of connections within the local government for what it's worth. 

As for how they afford this warranty, I speculate that PPR can offer this warranty because performing notes are a small portion of their overall sales (I get the impression from their website that they mostly sell non-performing 2nds).

Whether that is a function of too hard to teach or lack of knowledge of the teacher is speculative at best.

It appears to have serious structural problems (speculation)

If you are flipping as a rehabber you will pay more taxes regardless if your company is structured as an LLC S-Corp, C-Corp etc or Ptrshp because you are flipping and considered a speculator not an investor per government policy.

Let's do that first and then come back to speculations. :)

Many industry observers thought this was a smart purchase as they speculated that Dish Network’s strategy was to revamp the chain into a new concept.

I have considered getting the place appraised before making improvements but have speculated due to the fact that the bank is going to make me pay for an appraisal when I do a cash out refinance.

However, if I were to speculate, I am guessing a suit naming 40 LLC's is trying to charge assets owned by the one guy and sounds like the pursuit of deficiency. 40 different LLC's are trying to be pierced by some creditor.