Does anyone have any alternatives?

Or alternatively if the owner walks away, and the bank decides to sell the NP'ing note ... does the insurance coverage convey with the note since the bank presumably required to be listed as additionally insured on the flood insurance policy (if the property was in the flood zone and one was required)?

A checking account is usually opened for those who wish to invest into alternative assets such as real estate.

There are other ways to do it, but exhaust your conventional financing avenues first before you start exploring alternatives but by all means, get the property under contract.Hope that helps.Stephanie

It is all marketing to convince people their home market is too expensive and difficult and this is an easy cheap alternative with great numbers.

We would really need to know your full financial picture including interest rates to advise properly.You may want to consider asking here for an alternate viewpoint: https://www.reddit.com/r/personalfinance

What would you recommend as a cheaper alternative for Seed Capital?

Currently I work as a Human Resource Specialist for Staffing Alternatives Inc (SAI) at the Defense Intelligence Agency (DIA) in Washington, DC.  

LLCs are fine but have down side like extra filings, harder to get funding, etc.Just an alternate thought....

Or, alternatively, try and find a middle ground with your buyers agent:  "Let me pick 10 properties, show them all to me, I'll make offers on the ones that I think fit my criteria.