Form the LLC, make an equity contribution of $150k, buy the foreclosure and fund the rehab SOLELY with funds from the LLC bank account (if you need to add more funding to the project, deposit it in the LLC bank account first), and then sell it with the LLC as the seller.  

All you really need is one contingency: physical inspection. 30 day close. 1-3% deposit.

Fellow BP Colleagues,Requesting your thought provoking guidance on the following hypothetical situation in California:The tenancy is month to month and per the signed agreement, the tenant must deposit monthly rent in the Landlord's bank account.Tenant did not deposit the monthly rent and the landlord starts the eviction process.Tenant decides to deposit partial rent into Landlord's bank account and tries to circumvent the eviction.What I have read, once the Landlord accepts the partial rent, the eviction process cannot move forward.How does one define "acceptance" of partial direct deposit to Landlord's bank account when Landlord does not want to accept the partial payment and wants to proceed with eviction?

Turns out the Tenants were from California, they found the property for rent on Craigslist, and offered 6 months of rent up front; on top of the Security Deposit. 

Or deposit into personal directly?

I have their security deposit as their lease was supposed to end in june.

The one down side is that it takes about 2 weeks for the rent to get deposited into your account, but if you time things appropriately it works out well.

Since there is no written rental agreement, you'll definitely want to obtain an estoppel certificate before you close to confirm important details of the tenancy (i.e. how much the monthly rent is, whether or not the tenant paid a security deposit and if so how much, who pays utilities, who owns the appliances, etc).Then, after you take ownership you can have the tenant sign your own rental agreement. 

Only the EMD should be tied up and you prbly don't even need much of a deposit if it's a short sale.

If and when her lease had ended and she moves out, make sure that all of the alarms are accounted for and if not, charge it to her deposit.