You can loose ALL the asset of one LLC, but the concept is to avoid propagation to the other LLC.

I want to be prepared to answer any objections like avoiding a huge tax bill or loosing his monthly cash flow.

Can we use it to get out of the contract without loosing earnest money?

In order to get financing, the end buyer will have to get homeowners insurance that can be bound at closing.

If the subfloor is really loose/giving in some areas I would reinforce that particular area before laying new flooring to be safe

I believe that I need to act fast and cautious to ensure that I do not loose out on any property that might be in my price range . 

I agree with the others on month to month only so things can naturally shake themselves out with those who want to stay and those that don’t without being bound to people who want to make your life hell!  

They have a history in the town that includes loosing their children for undisclosed reasons.

I'm aware I'll  loose the economies of scale a proper MHP would have, but would this idea be cost prohibitive, or potentially a good stepping stone to one day being able to graduate to a real MHP while gaining local industry knowledge & contacts? 

She has a lender lined up to give her a conventional loan, but she needs 5 months to complete their requirements to qualify.Since she is about to loose all the equity she has put into the property, she has offered me the following terms: I'll pay off her land contract, she'll make monthly payments to me of $1,200, and then in 5 months she'll refinance out and pay me out a lump sum of $160,000, for a profit of $20,000.