One guy mentioned to me he does this because Ohio is a disclosure state, however I have seen other guys make this contract without the assignee signature line on the original P&S agreement with the owner (seller). 

It's not all inclusive, be should be a good start.REI - Real Estate Investing: This acronym refers to the practice of investing in real estate to make a profit.ROI - Return on Investment: This acronym refers to the amount of money an investor can expect to earn in relation to their investment.CMA - Comparative Market Analysis: This acronym refers to a report that compares the prices of recently sold properties in a specific area to determine the value of a property.NOI - Net Operating Income: This acronym refers to the income a property generates after operating expenses are deducted.CAP - Capitalization Rate: This acronym refers to the ratio between the net operating income and the property's value.LTV - Loan-to-Value Ratio: This acronym refers to the amount of a loan compared to the value of a property.FHA - Federal Housing Administration: This acronym refers to a government agency that provides mortgage insurance to borrowers.PMI - Private Mortgage Insurance: This acronym refers to insurance that protects lenders in case a borrower defaults on a loan.P&L - Profit and Loss Statement: This acronym refers to a financial statement that shows the revenue and expenses of a property.DSCR - Debt Service Coverage Ratio: This acronym refers to the ratio between a property's net operating income and its debt service.COCR - Cash-on-Cash Return: This acronym refers to the annual return on investment, expressed as a percentage of the total amount of cash invested.BRRRR - Buy, Rehab, Rent, Refinance, Repeat: This acronym refers to a real estate investing strategy that involves buying a property, rehabbing it, renting it out, refinancing it to cash out, and repeating the process.HML - Hard Money Lender: This acronym refers to a private lender who provides short-term loans secured by real estate.MLS - Multiple Listing Service: This acronym refers to a database of properties listed for sale by real estate agents.ARV - After Repair Value: This acronym refers to the estimated value of a property after it has been repaired or renovated.PITI - Principal, Interest, Taxes, and Insurance: This acronym refers to the monthly payments a borrower makes on a mortgage.HELOC - Home Equity Line of Credit: This acronym refers to a line of credit that uses the equity in a borrower's home as collateral.RTO - Rent-to-Own: This acronym refers to an agreement in which a tenant rents a property with the option to buy it later.NNN - Triple Net Lease: This acronym refers to a lease in which the tenant is responsible for paying all operating expenses of a property.NDA - Non-Disclosure Agreement: This acronym refers to a legal contract that prohibits the sharing of confidential information between parties. 

Full disclosure: I am not an attorney or CPA.

There aren't any disclosures or pics of the inside but we are just assuming worst case of a total remodel.My question is, is there any case where we could really get screwed here by putting in an offer and the people not actually get evicted?

The client(s) should review any disclosure statements available and ask the property owner(s) about past accumulation of water in the crawl space.

A lot of people don't know this but when you go over a 12 month lease in most states there are additional documents and disclosure requirements from the Division of Real Estate.

Disclosure - I am the Director of PR for Do Hard MoneyOur business has changed in the last two years, and we'd like to outline how we do businessAt DoHardMoney we do things a little different than most Hard Money Lenders and as a result we’ve disrupted things in a way that competitors feel the need to raise doubts and concerns about our systematic approach and our business model.

Will, I agree entirely with your assessment of making sure the LLC is your home state, but for protection and non-disclosure nothing in my opinion beats New Mexico.

Although we had all of the proper paperwork, disclosures, etc. the original seller's financial situation changed and they wanted to make life difficult.

In Los Angeles, the owner builder disclosure forms from LADBS specifically ask you to check off and acknowledge that any and ALL persons working for you on your project will have workers comp or that you will hire only licensed contractors who provide workers comp insurance.If you sub it out yourself, you can pull owner builder but certain items like electrical panel upgrades will require a licensed electrical contractor to pull certain tasks like this.The advice above to speak with your insurance broker/carrier on your plans moving forward is a good one and I concur.