Sure you may find a oddball who “doesn’t care” but even they deep down inside do care. 

The buyer is saying they are going to back out it the closing doesn't happen soon.Thanks,Adam Summers

However, we'd like to cancel the contract as interest rates have risen and it doesn't make financial sense anymore.

Nobody will do a better job than someone in the family, and the money stays in the family.My cleaning lady does the work for free, plus I get to sleep with her.No, she doesn't speak any english and can only clean and do gardening.

I have a motivated seller who said he doesn't care about his credit or a foreclosure he just wants some money in his pocket. 

Doesn't mean there aren't opportunities out there for whatever people are into, but they may have to work harder and know the industry real well.

I have a motivated seller who said he doesn't care about his credit or a foreclosure he just wants some money in his pocket.

He doesn’t plan to list them and is only looking to cash in on these properties to further develop another property he has.

@Phyllis EffahI would look to forming the LLC in Alabama as that is the state that you will be considered doing business in.While CA does have a $800 minimum tax; you may be able to potentially avoid having to pay it.This will depend on the level of activity of your partner/member who lives in CA.If he is a non-managing member and doesn't make any decisions regarding the LLC; it can potentially be avoided (money partner).

In the end, it doesn't matter how you got here, only that you're here!