Or the investor could buy the property, refinance it and hold the note with the bank while transferring ownership over to me?

I do have one thing that my "cautious mind" keeps wanting to clear out.I'm looking for a contract I can use that's legal that will allow me to send to agents, or a FSBO that keeps me safe in a wholesale deal and allows me to transfer it to someone else.

Hi so this will be my first deal its a great deal but theres a problem because the woman selling the house isn't from Michigan, she's from Illinois. Her brother died in late march he left her the house she's been in a...

Pay em through e transfer and it’s easy stuff.  

It can often help to include unknown LTV and a purchase/transfer/sale date of 5-10+ years.

You can sell it, sometimes it can be transferred to the buyer, but 99% of buyers do not want it so the most common is to pay it off through escrow with the proceeds from the sale, or some variation of that.

We Recently formed an LLC for the properties in Missouri and am in the process of transferring titles over to LLC.  

Seems like we will have to buy the property under our own names then wait 2 yrs to transfer it to a LLC.  

California conforms to this, so you also would be able to exclude the gain from your California income taxes.I don't know your age so this may not apply, but under Prop 60 if you are 55 or older there is a 1-time chance to transfer your property-tax base from your old primary residence to your new one. 

However, do I need to wait if I want to transfer the deed?