In total, including money lost from rent, legal fees, and repairs, the situation cost almost $30k.

Quote from @Godsheritage Adeoye: Hello, I’d like to know how investors typically handle Subject To contracts.

Will the title company put this property under our LLC name, and won’t be required to legally inform HUD/tax authorities. - will it influence property taxes once we move to conventional loan in 3 yrs? 

Is my criteria legal? 

It is a separate legal entity.

The real prohibitive costs come from the legal, compliance, and reporting requirements of registering a security.

I am assuming short-term rentals would be legal in the municipality.

With the internet, there aren't really do overs -- most websites have other websites that grab (legally or illegally) information . . . it is pretty impossible to make anything disappear once you put it online.

This second defeat at the ballot seemingly left WIP with few options, and it was looking like they way overpaid for this land that in it's current legal state could only be used as a golf course or park. 

How about a sales contract with contingencies but with a limit where the buyer can only terminate the contract if their find material defects exceeding a certain dollar amount.