I'll even through in my daughter's. 

If, through the process of renovating the property, the market shifts, do you have an alternate plan for the property, whether it be to live in it until the market improves, or convert it to a rental property, etc. 

A prudent investor doesn't seek quick riches through shortcuts.

In the same amount of work I could find an undervalued deal in my market through existing channels.

If you rely on others you will have to sift through more deals before finding the one.

@Martin StreichPlease go to your profile page https://www.biggerpockets.com/users/msresolutions and click on your photo to update it.

I am unsure if I could purchase a property through an LLC/SL based in Spain and what would be the taxation using this system.

If they "sold" the house to HUD, it likely went through foreclosure, nobody bid on it, and it became an REO.

This would allow us to come to the table with less funds out of pocket on the front end when starting construction.Is the best way to complete the transfer of ownership through a traditional sale registered with the county? 

Many become wealthy through real estate.