Account Closed to assign an REO you can do one of two things.You could set up an LLC or Corp and contract in your company's name...when you find a buyer you would sell your Corp or LLC to your end buyer through a Corp resolution.OrYou could create a land trust which is fairly simple to create and contract with the land trust you created and simply relinquish your control of the trust to your end buyerAnd of course you could do a double close but either way you would have to have an LLC set up.

I also got a couple of HUD deals as well with my existing realtor so I didn't leave her out in the cold either.But to me, this is beyond coincidence that using realtors at the same agencies as the listing agent is extremely beneficial.

In addition to the promissory note you would typically have a mortgage or a deed of trust, depeneding on which is used in the state where the property is located.

Not really a valid approach unless you're doing it with a very very significant other or a friend you trust your life with.With regards to the second idea, I believe you'd have to refinance out of the FHA loan in order to do this, which more than likely would require money out of pocket to get the new financing to a 80% LTV unless you've added significant value to the property.

I'm also looking for properties in Atlanta and Georgia (Atlanta) seems to be extremely competitive on properties fitting your criteria.

I am trust worthy and I believe in honesty and American Workmanship..

I joined a few days ago and everyone seems extremely nice.

Being willing to ACT on those ideas.Yes the Chicago Landlord Tenant Ordinance is extremely strict on landlords.

Don't mess with installment contracts on this, as mentioned, use a note and deed of trust and buy it.

Prepare for a long, painful (or expensive) process - Chicago is extremely tenant friendly, as I'm sure you know.Good luckLarry