To be successful flipping houses, one thing you have to do is treat it as a business not as a hobby.

It must be treated as a business.

They will treat this real estate no different.

Treat it as though it was your employer.

You see they will treat these as stocks and the first hint oif trouble they will dump them at a loss if need be.

A single member LLC is considered to be a "disregarded entity" for tax purposes, which means they ignore the entity for tax purposes and treat the property as if it was purchased by you as an individual.

Yep, there should be no problems if you treat yourself as a tenant and have good clean bank records, etc.How long would you stay after the complex is back on it's feet.

How is it treated in the legal community?

Like I've mentioned before treating your wholesalers right can be worth it's weight in gold!

Especially ridiculous that this buyer's agent thinks that defects communicated verbally by an inspector can/must be treated differently than defects communicated in writing.Then again, perhaps I'm the idiot...