All this leads me to suspect that they're stalling for time and when the taxes are due I won't be able to pay them and then my cousin will be able to take over sole ownership of the entire property.Please don't give up on me !

The other four wouldn't get anything right away, but would share the ownership of the $28K loan.

Once we valued the amenities of the lot, we'd design a basic home to determine where views would go and then place kitchen/dining area, great room or family room,master and office to use those amenities wisely.I've seen some great lots where the builder took a plan out of a "100 floor plans" book with no consderation to lot!

I'd be careful about taking ownership to a property that someone else will be doing work on while you still own it.

For tax deductiablity purposes, a land contract transfers ownership and the buyer, not you, get the mortgage interest deduction.

Thank you for helping me determine if this has potential.

I need to learn how to analyze properties to determine their investment potential, etc.

Have an SCorp that I use for real estate projects. Single owner corp, no employees. If something happens to me my wife won't have access to the corp or its assets or bank account. I have a POA that allows her to condu...

That's gives up any ownership of the house but does nothing to get her off the loan.

That's the problem with having a pre-determined price in your option in today's falling-value environment.You could try to play hardball and tell them they're obligated to pay the contract price to exercise the contract and get the credit.