That way if one goes bad, you have the choice to default the other one.

As to the original post (OP), suggest you reverse engineer a few properties to see the sequence of acquisition of title, encumbrance by trust deed or mortgage, trustees deed upon sale or court order, etc.Right off the bat you'll see that there's a difference with trust vestings used to identify the beneficial interest of a securitized mortgage, as opposed to an estate planning instrument or investor using a title holding trust.

Buying into or selling out of beneficial interests in a Title Holding Trust (Land Trust) do qualify for 1031 Exchange treatment.

You can always have them sign something stating that you have advised them to do this and it is their choice, that would show that you were not trying to coerce them into a bad deal.Regarding step 5, I would never have the buyer sign the contract first.

Would it be beneficial.

It would have been cheaper to buy him a bus ticket to the town of his choice, give him some cash for his vacation and bid him farewell....although from the sounds of it, this guy would have preferred to continue on right where he was...there is often no way to reason with mental illness, drugs or just plain stupidity.

@Adam F yeah definitely was NOT on my career choice list. not hard feelings for my dad as he was doing what he could to take care of his family, but I would never take a job I had to be away like that unless it was last option.

Getting my Real estate license I feel is the obvious choice for my long term goals.

Everyone has different situations, maybe the price is right but suddenly I have a family issue that keeps me out but that is a more important choice.

As to same or separate lenders it is a personal choice.