However full disclosure to original seller would be required.Please understand that as the holder of an option you do not hold legal, and probably not even equitable title to the property.

Which means if you referred someone to a property and they did not pay you the fee they promised to pay you, you would have no legal recourse.http://www.biggerpockets.com/forums/51/topics/65558-selling-homes-without-a-license-is-a-3rd-degree-felonyHere is an article from BP letting us know that this is a felony in Florida.

1) offer2) acceptance3) considerationA legal & enforceable agreement to transfer ownership .

Makes for messy envelopes, better go with a glue-stick.Yellow letters seem to work better than craigslist.

Setting up LLCs can get be expensive and create a lot of paperwork - each LLC files it's own taxes, etc.If you can't find what you're looking for here on BP, Nolo has a book "Every Lanlord's Legal Guide" that would be a good start.

Trey your on the right track but you should be able to reap the benefits and limit your liability as well.In CA, we have this form below that basically tells a seller that you are not representing them and they should seek legal,tax,etc. counsel if they need it.http://www.wrightrealtors.com/pdf/non_agency.pdfThe good thing about TX, is that the laws are much different and the disclosure requirements are much less.

The success rate of this plan would flirt with zero if not be negative for it's legal issues that could arise.Wendell, you have misconceptions over what this all means too it seems, unfortunately.

Is it legal for them to sell that far below market value?

He made a large investment that flopped a bit ago along with a divorce etc things got messy, the goal is to create equity so he can buy his own warehouse so as as I build properties when he positions himself in better financial position (2-3 years) he'll start buying properties off of me and my goal is to purchase more properties with the money I receive from him.Being that it is a family company and I am the oldest I am next to take over the company when and if my dad decides to retire (which I doubt he ever will, he's a workaholic) but I see it benefiting everyone involved.Again I could be wrong but I feel like I have the right people behind me and I know the employees would be open to this let's say that of the 43% that said yes 10-15% actually are serious about it that will give me enough to fill the two homes.The super point is a good one, I may have to put more thought into that one.Again, thank you.

What is the minimum legal notice I can give her to get the hell out of my house while still keeping her last month's rent?