I work in the Planning & Inspections department for a municipality, and the answer to the first 2 questions all depend on the City you're developing in.  

I would also check with the building department to make sure the re-hab doesn't have any violations on the property which you would inherit. 

Attorneys that can see a transaction through quickly whether it fell through or it closed.

I am transacting 1 deal in the portfolio for my buyer where they are transacting 20 for a set price so it's not my problem.Yet again others will say co-op is 2.5% like the seller is paying 5% total but they play games.

Setting up a loan from a self-directed 401(k) would be too difficult for one transaction.

Shoot me and pm - I have two valuation excel spreadsheets and a few RE valuation tools we use in lending ((for cap rates))....all that is free.Start tagging new transactions in keywords.....or just Tacoma...and  you will get a bird's eye on a 1000 deals a month right on this site and see the responses and the wisdom as they each newby runs into issues and opportunities. 

In your opinion, would an LLC be a good option for these transactions?

@Billy Raz working with residential loan officers vs commercial loan officers it seems the commercial guys are more transaction oriented vs (residential) relationship oriented.

I realize I can modify our operating agreement to reflect this transaction and his obligation, but it doesn't' sit the same way with me as if he were signing on the dotted line at closing.Please share your thoughts and if I am overthinking this,but if something were to go south or future disagreements I feel like I would be left holding the bag in this scenario.

This is nowhere close to many of these stories, but feels good nonetheless.Purchase: $25k - 12/1/15Repair: $40kHold/Transactions/PML: $14kARV: $110kSale: $111k - 4/18/16Profit: $32k