For your situation, hard money is fine, but I would make sure you have a contingency to complete, and own the property yourself if transitioning to him doesn't pan out.

They're harder to find (fewer of them) but worth the search effort in your situation.  

I have: -$14k in a traditional IRA-$5k in Roth IRA I have pre-approval from my bank for a conventional loan in my name for $80,000 purchase price ($12k down, $68,000 loan).I've searched the forums, but haven't found resolution to my exact situation.

There are many more options available and you should work with a reputable mortgage broker to specify the best option for your situation. 

So, as far as the USAA loan is, super simple and easy.In your situation, if you're saving that much, I would keep those student loans as long as possible.

Did the structure they helped set up hold up and protect you in an actual legal situation?

Unfortunately - for lack of historical perspective - since LLCs shave been around, interest rates have been going down; if this situation changes, lenders may start exercising the wording in the contracts.

General rule (for more reasons than one):Buy and hold rentals=LLC or hold in your personal nameFlipping=S-Corp (although this depends on some other factors as well such as your total profit and W-2 income) It may not be worth it depending on your situation.

A little about myself and situation.

Hi BP Community, I've read some posts before covering investments from various angles but have not found something specific to my situation so I'm am looking for some thoughts and advice from the wise folks on BP.