This does happen a lot in my area and if the person is licensed and follows the rules of everything on the transaction, you should be good to go!  

If you don't, the next seller (ie the person buying your flip) will have an inspection done and then ask for $ to cover a new septic. 

Bridge debt has killed a lot of operators, and trying  to extend while praying for rates to drop,, while the 10 yr went up.I personally think it's a great time to get in. 

Personally I'd rather sell or trade down @Bob Willis. if I needed to increase my lifestyle which I don't.

However, I’ve noticed that larger homes (3-4 bedrooms) tend to have difficulty renting as MTRs since most MTR tenants in our area are traveling healthcare professionals, typically renting solo or with one other person.

The only time they are not personally liable for the liens is if they filed for a bankruptcy in the past and listed the lien holder as a creditor.Once you take title to the property, you will need to file a quiet title action against any lien holders on record.

You can still have an operating agreement that everyone agrees to and it will accomplish the same thing.One thing I forgot to mention is what I did with a business partner is we have 50/50 ownership, but one person has 51% decision power.

@Colleen Sutherlandif you're serious my recommendation would be to spend time in person building your network. 

I have professional exposure to commercial real estate investment but have not done any deals personally.

You can even set-up an in person meeting or go down in-person.