The mortgage servicer is putting it up for auction so we plan to buy it there.

my main goal is to take out the financial contingency?

The plan is to use the cash to brrr or flip a couple properties. 

We plan to sell and use the $500k exception to the capital gains taxes because we lived there for two years. 

A cost segregation study is a strategic tax planning tool that separates the assets that have a shorter useful life and can be depreciated over 5, 7 and 15 years from the residential rental property or nonresidential real property that are depreciated over 27.5 and 39 years, respectively.

Hi,My wife and I have been working on a plan to turn investment properties into assisted living homes in Colorado.

(I'm an estate planning lawyer - not an insurance agent).That being said --- you really need to sit down and understand your goals before you get advice on what vehicles you want.Insurance people will tell you insurancelawyers will tell you to set up a ton of LLCs and trustsNone of these are correct if your goals don't align. 

I would try to avoid it on your very first deal but plan your exit right with multiple options.

What are their specific plans to get to their 90%?  

Does a trust account by definition mean that money will be held a specific financial institution location?