You need to be able to ask not only "is this legal?"

, but if a title search indicates no cloud on title, that should legally qualify as "clear title" I would think.I know state customs are going to vary (in my state, it's very atypical for the seller to pay any title or closing costs unless specifically stated in the contract), but even if it's customary in your state for the seller to pay title search/insurance costs, short sales generally have their own rules.

He helped walk me through some of the legalities.

You can't legally purchase the property during the owner occupant period (the first 15 days) until you plan to owner occupy the property for at least 1 year.If there was a legal way around this, you can bet that we'd all be doing it already...

You can, but you depend on having someone WILLING to work for you that does so that your company can have the legally required credentials.

No legal advice intended, I'm not an attorney, just my understanding.What is very important, however, is that you protect yourself against those requirements that involve lender licensing, usury, and the SAFE act.

It is from having it established correctly and operating correctly so if there is a legal challenge in the future the LLC passes the test.If you think you have assets as risk and want an LLC then handling it wrong is not really much better.

Legally not paid.The county showed that the taxes were paid as the state had paid them to the county.The state maintains a list of people who owe them taxes.

More because it would be too hard to educate the agents as to the subtle details that have to be managed to keep things on the legal side of the line.John Corey

Whether they win or not, YOU WILL LOSE (due to the legal fees, etc).The risk on this deal is high and your reward is VERY LOW ($5,000 to $10,000).