The property is in SE Michigan, but not Detroit.

(If you bought it, then sold it the same day, it would not be a double-closing par se and would be legal)If the property is a foreclosure sale, there could also be a stipulation by the bank that the property is not allowed to be assigned, which I see a lot.

In SE Michigan section 8 is extremely difficult to work with.

You might want to contact your local community legal services to see if they can offer you any legal assistance; dealing with bankruptcy is a complicated matter and probably not for pro se / DIY.

The only time it would be worth buying a home (per se) when the rental only offsets the mortgage with little to no profit, is if I was able to buy it on terms with little to no money down. 

But while they didn't trash the house per se, every surface was filthy and there were roaches galore.  

Being a HML of some repute I wanted to see if I knew any of the companies.. and when I popped on this one's website I was leary personally so I made a post any one do business with these guys and there were a bunch of negative responses.. and again I am NOT HML per se ' today.. but I used to do a lot of volume in the space 25 to 40 loans a month would go out of my shop...

I get this a lot from investors in SE Wisconsin Racine,Kenosha,Milwaukee areas specifically for blue collar neighborhoods..  

Control be is passive or active is important since you have no liquidity per se in a fund.

I know some investors who spend about 7k a month on direct mail.The benefit of the S-Corp (for many investors) isn't that you're taxed on the net instead of the gross -- this is true regardless of how you hold the property, as long as you itemize deductions -- but that you won't have to pay self-employment taxes on the entire amount of net income.For most people starting out, they won't make enough money to save anything considerable on SE tax, though there may be other reasons to have a business entity (legal/asset protection reasons).