Insurance also doesn’t protect you from misunderstandings, especially those made in writing and email.

If he's telling you this before he starts work I'd give him the benefit of the doubt that it's a misunderstanding and I'd consider his new price.I don't know enough details to give you advice but based solely on what you've said I would stop everything until this gets worked out.  

Maybe that is where the other lawyer jumped the track in his/her misunderstanding of the law.On the flip side, just to know for the future if you do more foreclosure investing, suppose the bank credit bid the property for $15,000 and then sold it to someone for $20,000 and that person sold it to your partner for $25,000.

That is an over simplification and misunderstanding of the process and steps.  

Many times, it's just a matter of a sincere misunderstanding and the person who's asking the questions genuinely hasn't be familiarized with federal law.  

Misunderstanding the Forbes data may have some believing that there's no return to be made in these markets.

I hear the podcast state that Depreciation is a builder of wealth, am I misunderstanding what they mean?

I would like to find a route that will get me the property but to make sure at the same time the seller and family doesn’t get screwed over on their taxes through any misunderstandings.

Are you sure you didn't misunderstand?

The major misunderstanding and likely the key driving the utility of these instruments is notion of ease of eviction.