My profit didn't really warrant closing on $200K house so assigning it made more sense. 

I have very little information about the building but I can tell you if the location warrants any type of decent flag then it would need a large rehab.  

That being said, if you break down what they do, and compare it to similar companies, it doesn't seem to warrant the extreme hatred they get on BP, unless maybe people are just jealous that these guru programs can make $40,000 for listening to questionable advice, when no one will listen to their good advice for free?

Although the original public attack on @Engelo Rumora may have been warranted in his opinion (though pretty harsh IMO), perhaps @Dan Mikolajczyk would be better informed on the marketing tactics of Turnkey providers here on BP and elsewhere if he checked out a few others.  

A seller who wouldn't as much as name a price essentially does not warrant much attention. 

Are there circumstances that would warrant setting up an LLC?

The good thing is that you are probably going to have the same access to material pricing that the level of contractor this job would warrant has.

The FNMA condo guidelines are all here  https://www.fanniemae.com/singlefamily/project-eli...Condo projects and properties which don't meet Fannie Mae and Freddie Mac warrantability standards are known as non-warrantable.Non-warrantable condos are more challenging to borrow against.Typically, a condo is considered warrantable if:No single entity owns more than 10% of the units in a project, including the developerAt least 51% of the units are owner-occupiedFewer than 15% of the units are in arrears with their association duesThere is no litigation in which the homeowners association (HOA) is namedCommercial space accounts is 25 percent or less of the total building square footageWhat  you want is lender that will lend on NON warrantable condo project. 

Hello BP!I have 2 condos in San Diego that I'm looking to do a cashout refi for.  I own 3/9 units in the building and already had a local credit union do a portfolio loan for 1 of them (30 year, 4.25% fixed, 75% LTV)....

@Natalie Vane I'm sure you probably have your own attorney contacts, but just in case @Jessica Zolotorofe wields a breadth of information on her own not to mention a number of others at her firm she can turn to if the situation warrants it.