Anyways we are working with an attorney now.   

This destroys the credit of the original owner who can then sue the subto buyer.Another issue is if the subto seller claims they were taken advantage of by the subto buyer at a vulnerable time (pre-foreclosure) and an attorney or regulator raises the question of equity skimming.

The SEC attorney I've been working with advised that I would just need to disclose in the PPM that 100% of the capital would be used by my LLC.

The rules are pretty complicated and the only people who really know all the terms and rules thoroughly are the Rent Levelling Board.Caveating that I’m not an attorney so go seek your own advice but I clarified a few things at a recent rent levelling hearing (which are open to the public and you can find the schedules with a simple Google).

First off, no, I am not an attorney.

Were you his SEC attorney at the time because Zach is being nice here in this review. 

Ask any asset protection attorney, and they will recommend WY, NV or DE as best states to use.

I ended up with some rules, couple here:1.Discrimination - Never Rent to Attorneys, Law students or Law Professors.Learn all you can about the Housing Laws i.e.

Maybe run this by your real estate attorney before moving forward. 

I am meeting with an attorney in the next few days to discuss business structure, and other things, and after that my goal for March is to have a meeting (along with my business partner) with an awesome MLO that was recommended by the great @Jonathan Klemm .Important thing I wanted to plug here is a free mastermind meetup I am planning for March around Naperville.