The note will be serviced by a third party servicer. 

Me and my wife have changed our minds on the home as it's a little far out of town, and the value has risen a considerable amount.My question is, if we manage to sell the home in the first few weeks when we buy it, how easy is it to sell it from a documentation/legal standpoint?

While I'm not an attorney and this is not legal advice.

Realtors here can only legally accept payment of any kind from their broker. 

What about taxes / legal things?

Don't really want to transfer ownership to other persons as that creates all sorts of other problems such as tax implications, insurance implications, legal issues etc.  

I am shopping around for Insurance for the property and am running into some higher numbers then I expected for the most part.  I

@Jake Parks - If you're pooling money together and providing a return for people/there is an expectation of profit for someone else and that other party is not involved in the decision making/management of the deal , then you are creating a security and the answer to your question is a resounding yes.The big thing you have in your favor with partnering up with family and friends is that you have a relationship with these people already and that's the biggest thing that the SEC is looking for.

So it's possible that without a heating source the home isn't considered legally habitable and you could be required to not charge rent for those days. 

Bringing the monthly payment down to ~$1650-$1700No plan to currently sell for at least the next 3-5 years, since my brother and father will be residing here.Property 3:Single Family Home (Snellville, GA 30078)Given to me by my father after my mother passed (Legally have not taken possession)Anticipated Rent $1500-$1700/MonthPurchased June 1995 for $100KCurrent Equity 100%Current Comps $150,000 to $180,000Anticipated Repairs $20,000 (Should be repaired by end of April)HOA $0My Questions:I know there is a capital gains exemption (250K or less if you're single, which I currently would be classified as) if you live in a property for two years.