You may have to actually assist them, so be prepared for that, as well as the fact they may not allow such a set up.

The deal always went fire for me.My thoughts are that you are just dealing with an investor that is not creative enough to entertain your deal.

Ebere,I must distinctly disagree with you as IRS rules and regulations state that all expenses in preparing the property for rental activity(defined as listing for rent or actually renting which ever comes first) are added to basis.He inherited the tenants when he filed for the deed of a home in which as he stated the intent was to flip.

If you really trust the person you can have them prepare and give you a grant deed from B to C and wire to close their escrow A to B.

Best of luck (preparation and opportunity) to you.

I want to start doing some creative financing but all this info on subject to, land contracts... is too much get into all at once.

orWas your father's crop income lost due to the bad year.Was any of the money used to re fertilize the land or prepare it for the next year's crop?

Maybe it's a function of me being a tremendous nerd, but for me the creative aspect of this business is probably one of the best parts.

(April 15th, June 15th, September 15th and January 15th) These are the estimated payment due dates each year. http://www.irs.gov/pub/irs-pdf/f1040es.pdfIf your state has an income tax, you will have to find their estimated tax form and fill that in as well)Be prepared to pay 30% or more of your total income in taxes(Income and SE tax which is comprised of both halves of Social Security and Medicare)Second, since you are in business for yourself as a sole proprietor, you will file form Schedule C with your Form 1040. http://www.irs.gov/pub/irs-pdf/f1040sc.pdfYou will want to include your payments on your 1040 when you file your return.A single-member LLC would have no difference as it is treated as a sole proprietor for that purpose.If your LLC elects to be taxes as a corporation(preferably an S-Corp) You would be required to do the same thing; however, you will also be required to issue a W-2, and file employment tax returns.

So, you need to be prepared to run down there quickly if you want to do the make ready yourself.