I have also read that tax professionals may view that 1099 as unnecessary as long as I list that 'nominee recipient adjustment' on Schedule E line 19.

Gary Keller wrote a book called 'The One Thing' and what he harps on is asking yourself the question, 'what is the one thing that I can do in/for business so that everything else would be easier or unnecessary'.Lead generation: Start with 1 lead source, then add more until you get to about 3-5 sources you can consistently target. i.e.

This seems like an unnecessary uphill battle. 

@Joseph Williams unless you are doing a significant amount of business the structure you are looking for is overkill and likely is unnecessary even if you are.

Trust me, if losing your own money hurts... losing your dad's money or anyone else money will hurt and bring you unnecessary stress... with that said: Your idea is not impossible.

I don't want to create unnecessary holding costs without being able to fully utilize the property.

@Peter WaltherThe original post she is buying the vendors interest not the vendees interestRegarding title insurance / Typically in these situations the land contract will state how the vendor issues the deed to the vendeeIf it’s via quitclaim or special warranty deed then in most cases the buyer (new vendor) does not get title insurance because it’s an unnecessary cost in most instances because you will be conveying title back to the contract holder and hold these loans for short period of times.If they are in default we never obtained title insurance either - in every instance we order a full title report to confirm the chain and make sure no title defects.

Quote from @Julie Garner: Unnecessary.

@Lenny MalettaIf you would like a higher cost loan with a lot of unnecessary guidelines that you get to jump through hoops to satisfy, they are great!  

Why take unnecessary risks?