Hello and thanks for engaging a convo.  

To effectuate the AML Program, FinCEN has given a definition of a covered entity that is broad in scope and covers most nonbank residential mortgage originators, which, in effect means those that sell homes.

Never make a purchase on a card while a promotional cash advance offer is in effect.

LLCs by contrast are relatively simple to set up and maintain and much more cost effective than our neighboring states.

Local markets also effect decisions as something almost considered a given in one part of the country might make no sense in another.

My question is how would I proceed to effectively aquire and rennovate the property without getting scammed?

I'm engaged in assisting investors identify lucrative turn key rental properties in various markets that are available, but not listed. 

I always recommend getting a second option even if the first one is right but you did right by engaging and architect.Have you talked to the building dept or a surveyor about splitting the lot?

A 1031 exchange is the most effective way to transfer cash from real-estate to direct oil and gas ownership through working interest partnerships without paying taxes or fees.

As far as how long a letter is effective when presenting an offer to a seller... that just depends on the seller but I'd say past 90 days is getting pretty stale and the fresher the better.Lenders tell me that credit past 750 or so is moot... once it's at least that high they don't pay much attention to it anymore.