2. if your buyers agent showed it to you initially and then you subsequently buy it w/out his help he may have a claim to a commission unless you get something clearly stating he is waiving his claim to procuring cause.3. if you are in a buyers agency with any realtor make sure the agency agreement clearly states the mutually agreeable terms. i.e. geographic area, price range, length of time from a showing that they are owed a commission if you purchase, etc.

Based on verbal condition description of the property I estimated a ball park of $15K for repairs (seller claims it just paint and flooring but you know how that goes).

The attorney told me that I can re-sell it using a Quit Claim Deed, that way he could prepare a document with a correct legal description. 

A person basically holds a claim on said property (pays the taxes) and adversely, openly claims that property as his/hers.After a period of time, 5, 10, 20 years a court order can give you free title. 

Further, title agents have been warned that handling funds in connection with any such transaction could subject the agent to federal RICO and money laundering claims, etc.Factor this information into your plans.

They are also making a claim alleging violation of FDUPTA--the FL Deceptive And Unfair Practices  Trade Act.

Some of these may be legit, but some of them...especially the ones who claim you will start off making $10,000 a week....sound like a scam.How would a scam like this work?

Do you provide appraisals to back up your claimed ARV?

Fast forward to tax time / refinance time, my accountant is telling me that the profit from Kingsbury, was actually a loss associated with quit claiming Mayflower back to the sellers.

@Daniel Dietz IRS Section 121 covers this (pub 537) - https://www.irs.gov/publicatio...Depreciation Recapture IncomeIf you sell property for which you claimed or could have claimed a depreciation deduction, you must report any depreciation recapture income in the year of sale, whether or not an installment payment was received that year