What do you experts say?

I also have no real knowledge about wholesaling - does anyone know how I could make money from a find like this?

Maybe we could exchange knowledge.

The OP's post shows a complete lack of knowledge..but we all start learning somewhere.

Each property that the LLC owns is put in it's own privacy trust.Has anyone used this structure or have an expert opinion on the viability of such a strategy?

On some level you need someone to data enter but on the other you need someone who is knowledgeable about construction to help you make the allocations between capital repairs and expenses. 

My best friend told me about the piling experts and I checked their website  pilingexperts.com.au and I am fully satisfied with their work.

Soak up his knowledge.

Hello BP Tax Experts!

You won't have time for conventional financing but you could also buy with $200k hard money, give him a second for $100k to get him out of the house now (or offer a portion of the sales proceeds if you want to be sure he doesn't trash the house on the way out), then flip the property for the rest of the equity.Whatever path you take, it's worth your time and money to consult with a knowledgeable attorney for this one.