Its a civil matter in that you've violated one of the provisions of the contract with the lender.Now, I am curious how a lease option would be structured in the case where you had a mortgage on the property.

If it is deemed to be a sham or a shell, then you will be able to pierce it quite easily and if that is the case, then there is no reason to have an LLC, right?

As you already own it and given its present capital structure it could be fine to hold.

What is the best legal structure for an investment team that will be flipping a little and holding some properties to rent?

How you structure your offers, how quickly information is communicated is important.

Let alone the liability issues and tax issues involved.As always, talk to an attorney about the proper entity structure for you.

When i said start small I meant finding a property where I know would not need any major structural work and just cosmetics like new paint,landscaping, maybe new windows, roof.

since it's in a trust they do.some sort of document that proves this is a condition that must be filled before the lender will lend.as some have noted, the key to getting a deal like this done is a title company and attorney that have experience structuring these deals.

I said ok, send me your counter offer.My question(s) is:How should I have structured my offer to AVOID a counter offer and how should I respond to the seller's counter offer if it cuts into myprojected profit?

Thats pretty much how we're structured anyway.