What about this:Get added to the Morgage as someone that is authorized to discuss the mortgage, but not be responsible for it.Get added to the insurance policy as a "loss payee"Get a Deed (Quit Claim or other) from seller but don't record it until the loan is paid off.Keep making payments on the loan under the other person's name.Another idea is to do the same as above but record an option against the property to be able to purchase property at any time in the future for $100. 

Thanks for the response.

A lease should state the heat source and who is responsible for paying for the fuel.

If you notice a lot of the responses in this forum is from all over the country.

That is an entirely different thing.A distressed property is a circumstance.Motivation is an emotional response to a circumstance.Tall grass, tons of mailers on the floor—these are circumstances.

It is a 100 year old purpose built apartment building which was considered high end in the early 1900s, with butlers' quarters in the basement of the building, and each apartment boasting 1400 sq ft / 2 beds / 1.5 baths and maids' quarters in the back.  

Hi Salvatore,Thank you very much for your response!

The landlord could be held responsible for 3x the deposit if they fail to do soWhat provisions are in the lease agreement you signed ? 

@Clay TeegardenAmongst the avalanche of nearly identical responses from my fellow accountants about setting money aside and rates and so on, I will repeat a point that I consider crucial:There is no guarantee that you will have any taxable profit when you start flipping.

Clearly define each person's roles, contributions, and responsibilities.