Cash enables you to close earlier if all goes smoothly, but Banks generally put a 30 day close on the final bank addendums to deal with any title issues, etc.. 

My plan was to buy wifi enabled door locks so that I could program the main entrance and that guests room to have the same code, for all of the guests. 

I also have about $20k I can borrow from my 403b.I'm talking to the owners (husband/wife) this weekend, and I want to come armed with some ideas to present them that would enable me to purchase the building (granted all the numbers work out) or at least have control of the building and any future appreciation.

An LLC can provide you with limits of personal liability to corporate actions, while still enabling you to maintain leveraging or partnership options on the property; options that may not be available to us in a Trust if you are hoping to continue using the land for business purposes.Hopefully this gives you some things to consider, and in the mean time while you wait to speak with your attorney about your options, you might consider reading "Understanding Property Law" by John Sprankling.

It would allow you to retain some control over the property, but it would also enable your son to drive those decisions as well (sale, use, and improvements).

I am interested in virtual wholesaling.

with strong value add potential.By going this route, you accomplish virtually everything that BOTH you and your girlfriend are looking to accomplish, without giving up much of anything. 

So, the notion of a 50% IRR driven by the incredible compression of Cap Rates is unrealistic going forward for the most part.Having said this, since we are talking about syndicated deals, which are a function of raising capital, the viable question is - how much return do we need to project so that the risk/reward is attractive enough to investors, enabling us to raise funds?

We'd like to secure an asset based mortgage on our primary residence (in the Twin Falls area), which would enable us to flip with all cash.

this tenant of real estate law is virtually nationwide..