Hello everyone,  I may be finding myself in a situation in the near future of receiving 70 SFH and a few duplex's the issue at hand is minimal legal structure (one basic LLC)  and no systems in place for anything, (no...

(if not negative, as your piti will be around 700-800/mo) forget about that "ARV" also. with the way things are looking right now, those are not real numbers either. all this to not discourage you, but to come to the table prepared for the twists and turns that are surely going to be there waiting for you.

Yeah I have been accumulating very nice gently used furniture for the last 6 months due to the wait times for new furniture.

The heirs are often motivated to sell, but may take time to clear a house, or to make a decision regarding how they will handle a house, plus the situation warrants an extra gentle touch because of the loss.  

@Vic French That is an interesting twist.  

ALTA rulings.Always like to read the posts by slicksters on BP, how to slip by, just break little laws or twist the unethical side like deceiving an owner into making them think they are actually buying the property when they really don't have the ability or intent to buy.Not having the intent or ability to perform under a contract you enter into falls under common law, basic contract law, what you have is a voidable contract, the seller can can the deal, especially if financing is involved. 

That's where I have no clue...As Oliver Twist said "Please sir, may I have some more?"  

Now comes another twist, state law may require foreclosure on installment sales where a borrower has attained a certain amount of equity or has been under contract for a statutory term, to follow foreclosure laws.

So if you ever want a good phonejob just call him.Also by some weird twist of fate I ended up finding a few amazing resources for both lease options and live seller calls for these types of deals.

If there is no second financing, ask the title company for an "All Inclusive Deed" I'm not familiar with deeds used in Cali, you have some wild twists out there, but the seller needs to have a security interest filed. :)