@Brittany George : Hey Brittany, if you love the deal and believe, using conservative numbers and reasonable due diligence, that it will be sufficiently profitable (financially or experience wise) to worth your while, then try not to worry about what you've already said were baseless claims or expend time imagining what credence a buyer would give those claims. 

Will home prices fall sufficiently in the next 18 months so that I am better offer renting than I am using it to purchase equity in a property?

What you're doing is safer and sufficient to provide for your family.

If you want to be a "perfect person" you can even notify the lender of that transfer and show them that your rental income will cover their mortgage easily.long story short, just having any LLC is not really the question or an easy answer.If you can see yourself developing a portfolio of properties so you can create sufficient cash flow to live off it and no longer have to have a job, then doing it the professional way, create a business (Operations LLC) and put your assets in Child-LLC's for asset protection is the professional way to go.Yes, you can live without all that but please be aware that in a case of a lawsuit for whatever reason, all your assets, your income, your primary residence, your car, 401K, anything of value can be used to pay for any judgment against you as the result of a lawsuit.I recommend going the professional route from the start, not because it is legally needed if you only have one house, but because it is part of the overall investing journey.

Reaching out to somebody once really isn't sufficient.

The only way around that is create a requirement internally that the down payment be at least an amount sufficient to enforce the instrument covering the advances necessary for notices and filings to foreclose.  

At the same token once you start to educate yourself the ball will start moving and help you to find better deals.

 @Christian Carson @Wayne Brooks  @J ScottAlthough I usually don't find sufficient margins at auctions to warrant going that route for properties, I did find this discussion interesting and would like to know if there is a legitimate issue here with what was described -- having the LLC buy the property then selling the LLC.

I don't think anyone in my family would have sufficient cash available, and I certainly don't want to come to the table with that much of my own funds.

Jones, in the right market conditions, where there might be a willing and able buyer, having sufficient knowledge of the property and market, where bot of you deal in good faith, after having this property exposed in the market for a sufficient period of time, with consideration being paid in its cash equivalent it is then possible that this property might sell for $100,000.00, but my signing below, you are agreeing to sell today, without any other conditions being required for $75,000.00" What's so hard about that?