I am not interested in the FHA 201k, as this place will not pass an FHA inspection, and I am not interested in them telling me I have to remove questionable paint, add stair railings, replace shaker siding shingles, blah blah blah.

Or do you just have the negotiating rights for an agreed upon time period in which you can re-sell the rights to the contract or complete the sale on your own if you choose to do so?

You will have to choose to run series LLC vs. separate LLCs.

If a junior leinholder chooses not to redeem after the sale, they do get wiped out.Jon

When i said start small I meant finding a property where I know would not need any major structural work and just cosmetics like new paint,landscaping, maybe new windows, roof.

If I choose to do a simultaneous close with the end buyer being an 'Average Joe' consumer, what are some unforeseen challenges that need to be taken into consideration?

The reason I'm choosing Texas and California because I'm very familiar with San Antonio and Los ANgeles areas.

They qualify as owner occupied properties if the owner chooses to live in one unit.

(D) when must the seller deliver to buyer or buyer's attorney evidence of marketable title, (E) what is the remedy if clear title cannot conveyed within a reasonable amount of time.2) If ever in need of a lawyer for anything, you don't let the other side choose your's.

I would choose the home just as a personal preference.