Quote from @Kristin Solbach: Quote from @JD Martin: What are you concerned with protecting? 

If you are concerned with the types  of prospective tenants  who may do a drive by to check out the place as a first step of their apartment search you have a real estate problem my friend,  not a leasing issue.

In the program they can bring their deals back to the program and allow "Pace" to fund while keeping the bulk of the profit leaving a little for the "gator". 

Are they tracking what IPs do after they leave their site?

I am concerned that the closing statement would not record the actual price I am paying for the property.

I'm not going to hold a tenant hostage or make them pay rent if they finished their work contract early and need to leave town.

In my experience, the turnaround time is fairly short and can be done in January/February and still leave enough time for your accountant to file taxes. 

If you had concerns about the asset if and when you pass away and would like to avoid probate, a Revocable Living Trust that owns the LLC that acts as a Holding Company is a good option.

I was concerned at first.

My thinking is this leaves me with two paths: A) Best case is I pick up the foreclosure for $1M, immediately list it for sale at $1.6M or more and hopefully sell for a > $500K pretax profit.