A rehab would really complicate things if your not there and add a lot of variables and a lot more people tp rely on that can screw you over if you cant manage them.  

not complicated at all

I apologize I realized I posted this in the wrong section and I don't have the option to delete or move it..I am going to move the text to the correct sub forum .. Sorry I am new with all of this 

I am not of the people, only looking for guidance.It is not super complicated but it is risky and I am not sure how to go about it 100% and what the best ways are to prevent any problems.A person wants to sell his house and a potential buyer offered to the current homeowner that they would pay him a lump sum of cash upfront, and then pay off the rest with a set monthly payment within a 5 year period.

I heard it was a long, complicated & costly process for a foreigner.

Is there anything about the past bankruptcy that complicates or prevents the sale from moving forward if we agree to an amount that covers the bank's foreclosure judgment. 

You can definitely always save money doing the project yourself by hiring / managing the multiple sub-contractors, but the question is going to be can you apply and pull permits yourself (same cities requires licensed GCs to do so) and do you have the time to manage the project yourself.Here's what I'm doing, because I'm converting some spaces in my project and things can get complicated with framing.  

I'm jealous...Second (check with an attorney, but) I believe that if he lends you money personally and you pay him back, personally, it shouldn't be an issue.It's where he lends to an entity that it will get complicated and need accountability.

Since you're just getting 3, I say buy umbrella insurance and skip the LLC - they add a lot of complication to taxes, finances (where you put income, how you pay for things) and I think a good lease and solid insurance will protect you just as well at this stage of the game. 4) How do I decide how long to hold the property?

This got somewhat complicated with the new tangible property regulations.