Getting a short sale in contract prior to it hitting the marketplace has become increasingly difficult, government backed foreclosures now require a listing to be active on the market for 5 business days, and require proof of the listing being live on the MLS (Agent Detail Report to be uploaded into the system the day it goes live).  

I have been discussing similar scenarios prior to finding this actual one with friends and the all said if I should them the money it would be a done deal.

Now i have always been avid about long term planning, but 20 to 30 years was a little outside of my scope, then i started reading autobiographies of real estate investors, warren buffett, and other instructional books that proved to me this traditional method is not law.

This is their clause in their (Homepath) website:"Please keep in mind that Fannie Mae may not repair or replace everything in a home - we always strongly recommend that buyers hire an independent home inspector prior to purchase to identify any areas that may be of concern.

Show photos and floor plans to prospective tenants prior to opening it up for show.  

I've always found a licensed contractor for those major jobs myself, but had the handyman coordinate the work and instructions as a GC would.

I have been discussing similar scenarios prior to finding this actual one with friends and the all said if I should them the money it would be a done deal.

In her prior arrangement, she was working for her father.

If you hire a lawyer to create the LLC and instruct you briefly on what you need to do to make it useful, then follow his/her instructions ,,,, you will have a valid asset protection.

Most of that was income from prior deals.