Hi Shannon, He was living with his father who is elderly but his name was not on any of the transaction or escrow paper work.Also I spoke with another real estate attorney he mentioned, since this sale was a done by one agent (I had to use the sellers agent ) The realtor has failed to do her Fiduciary Duty in protecting the rights of the sellers' which in this case my wife and I.

It's sufficiently common that I have the max sales price in my area with exactly 3.5% down memorized -- $648,186 for a SFR.

If you do not have your license, what issues have you run into as far as for sale by owner and closings? 

build and sale or rentals? 

Pre-foreclosure means there has been no foreclosure sale. 

The Corp reports it as a sale of the property held long term and then the distribution of it as well. 

These are generally referred to as "turn-key" and there are lots for sale.  

Me personally, I would be tempted to put up for sale as-is for what you bought it for and walk away after a certain time as you will then incur other expenses.  

Look into tax sales and liens.

@Darius Moezinia Refinance right after the completion of a 1031 is perfectly acceptable and is a frequently used strategy when cash is desired by the exchangor who does not want to create a taxable boot situation by taking cash or be seen as inappropriately accessing profit by a refinance immediately before a sale that begins a 1031.