Plus he has a life outside of work, presumably.  

I like the part of the statute that says it will be PRESUMED that such party was acting or attempting to act as a real estate broker and the burden of proof shall be upon him or her to show they were not acting or attempting to act as a broker.

(In addition to the higher costs.)But you are right that the mills deal with standard stuff, which is presumably what almost all foreclosures are going to be.

Lastly, you have to discount the end return using a FVM model since your return would take place over 20 years presumably.

Presuming you follow all of the requirements, the quitclaim would transfer whatever interest the seller has in the property. 

But this point is where I do not have enough data.I presume that your 15% down loan will come with Private Mortgage Insurance payments - I expect that it would.

(Remember, your premise was "How to properly structure buying a home with cash", which presumes you already had the funds, right?)

Can the presumed capital gain of $165k be converted before sale next year into a mortgage secured by the property  to avoid taxes and have the secured property changed to our newly purchased property? 

They want us to rent from them and then sublease to another renter (of our choice) so that they can get some rental income and presumably have us deal with being the landlord. 

Presumably, they would want to work with flippers.