Same net dollars for you at the end of the day, plus you avoid the potential problems, plus your daughter gets just as nice of a place paying $600 to someone else instead of $400 to you.  

Needless to say after the burst of the housing bubble we turned to renting instead of selling the property to avoid a hefty loss in equity.Fast forward to 2015, I manage our one single family home without a property management company (woo hoo!

I see more wholesalers considering transactional funding in or above the $15k range to avoid disclosing their purchase price when assigning.

This method or tool will allow us to place a resident in the property who for whatever reason can't qualify for traditional financing yet, but would like to enjoy ALL the Rights of Ownership yet avoid all the inherent dangers of Seller Financing Schemes such as Sub-to, CFD, AITD, Lease Purchase, Lease Options, etc.

Not only will you gain a lot of knowledge about what to do, you'll also get insight on mistakes to avoid.

are you then liable for having to purchase the property or is there a clause in the contract to avoid such an issue?

In a nutshell, bya) rigorous early weeding of applicants.b) only paying for credit check and deferring that till lastc) always knowing whether an application will be successful before the credit check staged) doing our own background checks.we are able to  refund unsuccessful applicants.For the avoidance of doubt if we haven't decided we can accept an application by the time it gets to the final stage (credit check) we reject it.

Form 3 (or more) LLC’s to avoid having all assets being subject to getting sued. 1 – An LLC as the buy and hold holding company, 2 – An LLC for flips, 3 – An LLC as the operating company (heads into contracts, collects rents, etc.).

I want to know what sort of procedure or check list I should follow in order to avoid such a situation.

If I did decide to flip it, how could I do so and avoid paying all of the taxes and liens on the front end?