Bank tentatively accepted an offer for $120k and I already have found an end buyer for  $145k , my question is can I still do a simultaneous close using an option contract or do I need to start an LLC or land trust.  

I don't intend on purchasing this, I am really just trying to practice analyzing larger multi-family deals.Keep in mind my calculations were done based on the list price.

So @Shaun Reilly do you think a good practice in this scenario would to ensure there is language in your purchase and sales that specifically says, "I am not a real estate agent and am not acting as a real estate agent for the seller in anyway shape or form".

I will start practicing running numbers on deals, that is a great idea.

We're practically neighbors, I'm over in Bladwin Park.  

I'm willing to make the call, I just want a little reassurance that it's acceptable practice.

Realtors can not practice law or give legal advice, but you shouldn't even have to come to BP with a question like this if you have a good Realtor working for you.  

That will be state specific as to standard practices. 

Most title companies have been making their "B" clients in the transaction bring their own $ to the table to close and not letting the "C" clients $ fund the deal to prevent any double close or simultaneous closings due to the HUD laws. 

You'll have to practice being a landlord and learn everything you can about that specific niche, but I think its a great niche to be apart of.