This is slightly tangential to the main discussion but is a form of asset protection (tax exposure).

Maybe there were some exposure of your own intentions.

if you have a lot of various exposures (houses, apartments, medical practice, a restaurant, motel, etc) LLCs provide some separation of liability so that losses from one exposure don't wipe you out across the board.

Does the place have good solar exposure to the south that can help heat the place on sunny days.

I can't speak about the specific area your looking to buy in but I'll just comment in general about my experience going to foreclosure auctions.My overall exposure with buying foreclosures from an investment standpoint has been negative.

There is that of course.... investment by its very nature is risky business... typing up $1.5 mil in two properties is riskier than having same amount in 12 although someone can also argue that 12 properties also means more exposure to whatever liabilities (or headache) landlords typically face with tenants.

Probably the biggest things for me have been getting extremely comfortable with wood construction and it's limits, exposure to HUD financing, and really just how to trim the fat during design in order to keep costs down and avoid going through VE later.

:snicker:  Non-legal can ONLY  BE TROUBLE and legal exposure  :sigh:

That's why I said I think he's just a rich dude trying to get richer through views/exposure so he just talks and talks regardless of how inconsistent he is.  

I know that some brokers don't like to use it as some see it as diminishing their reputation (not sure why since all exposure is good exposure!