The mortgage held by the seller is the 1st and only.

Don't make the same mistake many American's made who held for too long!

However, he now wants me to do a quit claim deed (held in escrow?)

Hard money may be an option, but the high rates are typically intended for short term deals and will drain your profits if held too long.

I do have some time during the day when I won't be playing poker and I won't be going to shows!

Now is the time to consult with an estate attorney about what his assets are, what he wants to happen to them, and how they should be held.

Any equitable interest given in or to a property held as collateral is grounds to call the loan.

My CPA, who is also a tax attorney, has said to me that assets held in Nevada or Delaware corps are harder to get at for a spouse when they are going through a divorce.

Real estate held as an investment exchanged for other real estate to be held as an investment should qualify.

Have a friend that has a property that he wants to accept money from a 1031 property that has sold and the funds are being held by a facilitator.Would you consider the completion of identifying the property as a sale or an exchange.