Contractors are not disqualified individuals.

My main concern is that this form might make it difficult me to do a 1031 exchange down the road if I indicate that I intend to use the house as my principal residence.

Reach out to the people you owe money to and ask if they will help you remove it from the credit report and indicate that you will pay it.

Usually I use the term stumbling blocks in the middle to refer to these individuals.

If nobody buys them all, then they auction them off individually.

Many individuals initiate Living Trusts a type of trust known as Grantor Trusts.

http://www.chicagotribune.com/classified/realestate/foreclosure/sc-cons-0913-strategic-default-20120913,0,4134066.storyI think it is particularly interesting how they indicate that they will pursue you for "abusing" the system, not because you broke the rules or the law.

It wouldn't hurt to have your insurance company check to see if the individual who started the fire has any insurance policies that can be billed for the damages.

Actually I think many individuals approaching retirement these days would be happy to put up half the down payment and use all their own debt and take title .

As I suspected the advice was bad, as indicated by the answers I got here, my accountant, and other due-diligence.