Granted I think you want to avoid foreclosure.If you are on the title as a co-owner then you would be legally responsible for everything that he does and anything that happens to the building.

I assume adley is wanting to avoid the costs of the double close.

I said ok, send me your counter offer.My question(s) is:How should I have structured my offer to AVOID a counter offer and how should I respond to the seller's counter offer if it cuts into myprojected profit?

Here is a way to avoid the seasoning issue.

You clearly understand this given your business success in other aspects of your life.

Do you have any idea what aspect of investing you'd like to begin with?

An illegal contract can not be enforced no matter who draws is up.A lawyer can help you avoid breaking the law.

If they had equity enough to offer seller financing, they had equity enough to refinance and avoid the foreclosure.

It panned out well for us and got us started, but I'd like to avoid going that route down the road.to be even more exact, I think our loan was a 5/1 @ 6.25% and after 2 years.

Please review them before posting again to avoid having any posts removed:http://www.biggerpockets.com/forumrules.htmlRegards,