I want to set up asset protection, anonymity, tax strategies, and everything else to build my empire the right way from the beginning. 

The bottom line is that I'll stay home and skip Cochran and Watson's Las Vegas weekend (Vegas has never been my cup of tea in any case) and I'll spend my money on my own marketing campaign. 

How does one protect oneself from him taking money and running / not finishing project [obviously I'm going to sit down w a lawyer before we partner up]What do you guys think?

I would consider building your own Roth and work both accounts together and if you get to the point that you are replacing your W2 income you can live off the income it is easy to take the money out of the inherited IRA at your spend rate. there is also a way to take the money out of your Roth IRA prior to reaching 59.5 years old.

Spend it all on farming?

My partner and I have about $200-250 that we can spend per month in this area are would like to set up a campaign that will work long term.

--------------Rather than overbid well above the amount of the judgment that led to this foreclosure, the lawyers will just start the process over again and hope that the bidder will find another property to spend their money on in the interim and won't be in the auction room next month to try to get a cheap deal on a $730,000 house, allowing the bank to acquire Joseph and Tina's house for minimal additional cost to their exposure from both the mortgage and the home equity loan.

And buying gold is somehow going to protect you?

Not a protected class.

Of course I would want to have as little risk as possible, so I would want to get loans for these purchases.My question is what is the best strategy for protecting the equipment and what kind of exit strategy would be the best?