And when you really need a complicated setup like this is when you're under attack, meaning you need an attorney to handle the case.

If the tenant fails to provide the landlord with the forwarding or new address as required, the tenant shall not be entitled to damages or attorneys fees under division (C) of this section.”

I recommend getting an attorney and knowing the process well in case of a bad tenant. 

DM me, and I will send you contacts for attorneys, lenders, and accountants they have previously used.

DM me, and I will send you contacts for attorneys, lenders, and accountants they have previously used.

In the middle of a sale of my parents condo and it's been 5 months and we have not closed due to title companie's lack of communication, instruction and then bringing an outside attorney into the fold to assist that has dragged this on even further.

But if you plan on doing more spec homes, the LLC would likely offer more benefits through legal protections (obviously speak to your attorney about this) and potentially tax savings if you look to file as a S-Corp.

It would be best if you spoke to a lending attorney before you get into trouble.

Additionally - you should budget around ~ 3-5% for all closing costs that also includes attorney fees, mortgage payoff fees, etc. 

I would advise speaking with an attorney that can help draft up the documents and understands the business you are in and the potential pitfalls so everyone is covered.