Also, due to his and my miscommunication, I told him that we will use an escrow company to handle the sale. He

My partner (okay, i'm bias b/c he's my husband) knows all the constructions, building, woodworking, the fixing up logistical stuff, and I'm the finance  and design.. you will be 100x happier and more successful if you find a partner that's a ying/yang... a partner and a mentor to match your strategy!  

The problem is cash would have to change hands to be deemed a true sale. He's

Your father in law would potentially be looking at gift tax, capital gains tax, as well as transfer tax on the sale. He

So the first trust deed holder put the building into foreclosure with a sale date in March. it also has a second lien holder that the realtor says will accept a short sale. he says the total of the two liens is over $500k.How do I work this so that it makes sense?

I saw this last time too where all these flips shows came out, seminars from educators were rampant, news stories were once again touting real estate as in vogue and a juggernaut that can't be stopped.I know agents right now buying cars,big houses, trips out the yang thinking (this is awesome).I am trying to make smart investments today and hold a certain liquidity position to take advantage of discounted assets in the future.There is talk that Trump's plan for reducing corporate taxes and road improvements might extend the cycle out 2 to 3 more years but nobody knows for sure.

It's a pretty broad question not knowing your friend @Freddy Yang.

I just finished reading a book in the Robert Kyosaki series written by Ken McElroy who is known as a genius in the way he approaches property for sale.  He

By the way @Rich Baer taught  me a lot about tax sale. He

If he gives seller financing (installment sale), he will only pay taxes as he receives payments.