If no, I would recommend using your local Board approved contract from the local association of realtors...these are typically legalese, but offer the most protection.

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t checked it out already, the Bigger Pockets blog features links to their awesome podcast and many great articles: https://www.biggerpockets.com/renewsblog/The site has quite a few tools that can be helpful for new members.

I have no idea the legal implications if I used a personal card for business purchases and had the corporate account pay it.

It brings in a good amount of people per day and from what I heard they are well passed the legal limit of people they are supposed to be helping.

They may already have approved contracts.

I would settle on the business terms first, then engage an attorney to help you decide the best legal structure.

I've been approved for a loan at 5.5% adjustable :/ and 10% down.

What are the chances of being able to get approved for an equity line on this property under the business, if any?

(many are cash only)  And will your HML approve an on-line auction property?

For example, if you purchase a $500k legal balance (unpaid principal + accrued interest/fees) for $200k, then rehab and sell the property for $300k, can you write off the uncollected $200k (the $500k - $300k difference i.e. not pay taxes on your profits, as on paper as the lender, it is a "loss")?