The owners of record do technically still own it and can sell/rent/strip it until the bank forecloses, and (as I understand it) they can legally they can deed it to you without affecting the BK, but then you have a house with all that debt that presumably needs work. 

., As I read this, A put up the money for the downpayment and used his credit to qualify for the loan, but B ran the show, collecting and presumably keeping the rent payments, providing maintenance, etc.

I am not clear on if and how it applies to new construction, but I presume it applies to existing housing. 

Commercial property I presume?

Presuming you have an inspection clause, you can always use that to get out if leases don’t match etc. but you’ll have to be prudent and be sure you get them within the contingency period.

Okay, here's some help...If you're trying to sell a property, and it's not selling, it's likely do to one or more of these things:- Location- Condition- PriceSince you presumably can't change the location of the properties, I would recommend either/both improving the condition or lowering the price.I can promise that if you improve the condition enough and/or lower the price enough, you will have no problem making a sale.If you want to provide more information, perhaps we can all provide even more help...

Don't be pushy, but at some point, bring up whatever it is you're trying to do, presumably fix and flips or some other short term project.

Although the article didn't say it I presume the structure would also avoid the CA gross proceeds fee on LLC's.

I'm not concerned with the balance sheet (presumed equity) I'd care more about the income statement (cash flow and making money).

Scenario 1: Presuming your renter took care of the unit, it can be cleaned and ready to re-rent within a few days.