And..is it even necesary for tax / legal purposes ?

Hello I am new to this website and am inquiring about information regarding the practice of house flipping (the legal way) and was wondering if any type of license is required to flip houses.

The trustee is the legal guardian of the Land Trust.

A Lease Purchase is a written guarantee that the Tenant/Buyer will purchase; if not, there could be legal consequences.

-Assuming technically and legally you could put such a thing as a nationwide MLS together (a HUGE assumption as MLSs and the NAR would spend big $$$ to crush this initiative), that's as many as 10,000,000 potential consumers of your product EACH YEAR.

There are no front-end legal issues with advertising for private funding.

A deal in your situation sounds too close to cecoming a massive disaster--I would recommend you spend the money and see an attorney.I would also suggest posting this under the "Legal Issues" heading and see if any of the legal gurus around could give you more specific feedback.

Chris,Welcome to BiggerPockets and we look forward to you contribution.I am not a tax expert and I would never consult any free source of information for tax, legal or accounting advice.

Keep in mind I'm in AL (sometimes termed a non legal state -where there's no legal court proceeding prior to foreclosure.

You've got to make sure that there are no restrictions expressed in the lease-option contract that prohibits assignment.