That doesn't speak to ability/competence though which seemed to be the emphasis of the comments I saw.  

I graduated from college with a business degree that had an emphasis of real estate.  

I spoke w a lady a month ago who is going to lose her house 1/8/16 at the auction.

I graduated and got a business degree with an emphasis on real estate.  

You have nothing to lose by asking him if he would sell and hold the mortgage.

Flipped first house last year and I enjoyed the process....and I did not lose money on my first one.

You win some...you lose some.

There are costs for maintaining the trusts and there are formalities to be followed.Having General Liability insurance also protects your assets as in the case of a lawsuit you may be defended at the cost of the insurance company and they may also pay all or a big portion if you lose.

I graduated from college with a business degree that had real estate as an emphasis.  

One of my concerns is not being able to close within 30 days with a bank loan and possibly losing some are all of my deposit.