Additionally:Is there a specific state where it makes more sense to establish the holding company (now that anonymity in states like WY or DE isn’t the focus)?

This issue alone kills many HUD dealsYour agent must fill out the request form and deliver it to the FSM with the required $$$ to de-winterize. 

@Jose'Luis De La TorreWelcome to BP!

At this point I'm trying to figure if I should try to bring in an experienced partner to de-risk this build out or scrap the plan altogether and sell. 

depending on where you are in NJ you might have the Lehigh Valley in PA a couple hours away, or Delaware, etc. you can go to meetups, see places in person, and start to build a network.

As "proof" that they are legit, they sent me a copy of a DE vorp good standing screen shot and a fake HUD statement showing $1.2 million on a property that was sold for $200k three years ago.

Repairs would generally be for costs <$2,500 using the de minimis safe harbor. 

@Jeremy C.I looked at their (JLL's) website and see that they have a history dating back to 1783 in London England and have offices in DE, MS, DC, & VA.

I just wanted to share that resource and potentially de-stress Quest 401(k) holders. 

Purchase price: $175,000 Cash invested: $43,000 3 Bed 2.1 bath 10,000 SQFT lot Cul-de-sacCharming home completely remodeled.