I thought placing your property in an LLC discourage litigation in the 1st place?

This is a big problem should an unlicensed broker be reported to law makers.Should one ever get litigated, can they prove in a court of law that they had 'real true intent' or 'financial ability' to purchase the property in the first place, may be an issue.

Potential cash purchase, and it is an enticing deal that I could get relatively good value on, but the issue is such - there is pending litigation against the HOA for mold ( not my unit, or even my condo section).

I took a seminar last month with a company that buys foreclosures in the Chicagoland area on behalf of investors, they have a list of about 20 items to do before the auction date, one of them is to check the court file and find out who has interest in the property, they recommend staying away from properties in which the owner has a lawyer (especially certain lawyers here in Chicago) litigating the foreclosure.

Probably a real estate or business litigation attorney. 

At least on the litigation side. 

He does litigation as well as contracts and closings

I'll buy fractional interests or disparate pieces or estate, even in litigation, knowing how to reassemble the paper pieces later.

Of course if you try to litigate the lawyers fees might outweigh what you may actually receive in damages.

BP does not count  LOL I left my job as a geotechnical/civil engineer and now I am doing flips/rentals.