What are the minimal requirements to have a property legally be our primary residence.

After all, there are no background checks, minimal credit checks, etc.  

I was in a very dark place at this point.

Hi, we will definitely consult our tax professionals but wanted to brainstorm some ideas before approaching them.Situation: Private lending for downpayment and rehab costs for fix/flipWe discussed doing a promissory n...

Okay, So I am in the dark a little bit with pre-foreclosures.

What lessons have you learned in the past to quickly turnaround your house to be ready for another tenant?  I learned to check my property quarterly and to nip things at the start if there are any issues.  

Cash flow will be minimal even with myself managing the property.

@Lance QueenI’m shooting in the dark not knowing your rehab or market but...How is it compared to the comps Days on Market?

Any suggestions on how best to proceed to minimize our losses?

I'm not a lawyer, but this is frightening.First of all, the Statute of Frauds requires that contracts above an minimal amount (normally about $500) be in writing.Second, verbal contracts are binding, but not in real estate.