It was listed for $170,000 and we got it under contract for $100,000 then sold the contract for $115,000 What made you interested in investing in this type of deal?

What MAY make sense is to setup a Master LLC that operates like a PMC and collects all your rents, pays all your property-related expenses, etc.The owner of each property (you, LLC, trust, IRA, ect.) would have to execute a management contract with the Master LLC, so the Master LLC could legally act on behalf of the property owner(s).Check with Account Closed read our 

I found this property on the MLS, after falling out of contract last minute due to buyers financials. 

Not qualified for any public/non-profit assistance.Am I able to run traffic to this offer legally?

The property owners IN MASS burnt down their properties, which, since they did not file insurance claims was actually the only LEGAL way to free themselves of the continuing negative cash flow of these buildings.  

By not engaging a listing agent, you not only take on the challenge of dealing directly with buyers’ agents but also increase your risk of legal exposure.

Will this optimize your tax position or legal position?

The average home takes 3 price reductions before going under contract.

Its really important for people entering into any home improvement contract to understand the state laws for so many reasons, business and professions codes/laws, warranties whether expressed or implied etcThe point being is well executed legal contracts are best for all parties involved.

This is not tax or legal advice; engage those professionals.