Seperate by partner.If you form an LLC, you may be required to have or perhaps should have an escrow account for deposits, as it is not your money until a certain occurance or damage is suffered.

(I'd check to make sure, in Texas, for example, there's a large exclusion) Only things that come to my mind are (1) maximizing deductions (sort of a no brainer), (2) timing profit to occur in years where your ordinary income will be in a lower bracket, or (3) holding the property for a year and becoming subject to long term capital gains.

When a nominal transfer occurs there may or may not be transfer taxes due - it depends on the nature of the transfer, at least in the state of PA.

I am an agent, and if this situation occurred, I would ask you if you wanted my help, for a reduced %, then I would help do the research, etc.

While things like this occur, some of these "devises" to move the show forward seem potentially falsified to create a dramatized view of flipping homes.

Until reading this thread, it never occurred to me that there could be confusion about an as-is sale versus contract contingencies.

On asset wealth, with the costs of college and the loss of income producing time while obtaining a degree the non college person wins...Here was his final statement on page 32- "When it comes to your ability to accumulate wealth,it just might be true that college does more harm than good"Remember- I'm just the messenger.

Or, since this just occurred in the last month, maybe this tenant bought some "new to the tenant" used furniture, that came with some built-in surprises.

Eventually we changed the system to one that we believed to be more fair and even, but unfortunately, in evaluating the system and your reaction to it, we realized that perhaps the system was doing more harm than good.Many of our users felt that 'influence' wasn't an accurate measure of their actual influence on the site, and sadly, some of our power users were turned off and cut their participation here.

The fact that you would potentially put yourself in harms way to secure a deal that you would need to swindle your end buyer on raises much larger questions about your priorities.