Alright I think I just opened a can of worms here, but seriously, Id like to hear from the people who don't think you need an attorney when forming an LLC for example. I can see where the advice of an attorney would ...

It has nothing to do with the integrity,structure, condition ETC. of the property.

At this time, you can still have changes in the following, structuring any final deals, write offs, needed acquisitions, and etc.

My question is how would I structure this and could I even "subject to" this as it is probably in forclosure status at this point?

I can find many articles on how to structure a lease option so it does not look like a disguised sale, however I want my lease option to be treated as a sale in the year 2012.

Hi,Other than the bathrooms, has anyone installed tile on the second floor of their property?

Your $230K overall insurance amount is too high - you don't need to insure the value of the land, just the structure to be rebuilt if something major happens.

My favorite lender said "he wouldn't touch it with a 10 foot pole" because of SAFE.Have you ever used a mortgage broker to structure the deal and if so, how did you find one that would do it?

There are plenty of books and free resources that will cover business structure, economics, raising capital and everything else you could think of.

As an added bonus, in all likelyhood the value of your property has appreciated OTOH, if the basic structure is ALSO in poor condition, AND the roof is bad, and its not that great of a location, or floorplan, or... then it won't make any difference- you're looking at a teardown.It also probably won't work if you are unable or unwilling to do any of the work yourself; and/or if you are picking all new contractors out of the Yellow Pages.In general, I disagree with the idea of doing just enough to get it rented, then make it nice when its time to sell.