It seems smart, but is it legal?

I would get a lawyer to find out the legal way.

It seems somehow or other they were affiliated with HSBC but I tried to call them and they weren't helpful.2) Is there any legal process, in the situation where a lien holder cannot be contacted or located, where you can give ample and public notice for lien holder to come forward and claim possession, otherwise lien will be forgiven?

I'd love to develop a clean, open, legal, and comfortable win-win situation for these sellers. 

Friends have suggested that we meet with a real estate attorney in order to ensure that we have everything lined up legally prior to beginning the endeavor.Our real estate agent gave us the name of a seasoned real estate attorney in South County and we are meeting with him next week.

Once again, I think you need to double check the value of time here... 1hr of a walk through vs countless hours of legal action.

It sounds good, I know its bad, I know it holds legal issues...who has done it, would they do it again on a tight schedule?

I understand the reasoning behind placing real estate in an LLC: for the owner to shield himself/herself from personal liability in the event of legal action.However, is one LLC enough?

I understand the reasoning behind placing real estate in an LLC: for the owner to shield himself/herself from personal liability in the event of legal action.However, is one LLC enough?

What is the best way to protect ourselves legally and structurally from each other in the many worst case scenarios?