@Justin R,  thank you for your information,  I did ask the inspector who came out to my house, he said the high occupancy house regularly is being challenged in court , therefore it’s not enforced.  

If, however, there are no finance or inspection contingencies (often the case with wholesaling) then there are few legitimate reasons not to close; certainly a lot less reasons than a standard MLS purchase that typically states financial and inspection contingencies.  

Hi Elliot,I recently embarked on my journey for financial freedom and started with out of state investments.

Does anyone have experience with Close Now LLC (broker) or W Financial (seems to be the funding arm)?

@Eddie QuirkI see a financial disaster in the works here but its a great learning curve so, GOOD LUCK.

Generally, you would only be forced to sell, if you had gotten into financial trouble in another area and needed to get your equity out of the property as a life raft.I don't know what your market is like or what your financial situation is like. 

The situation is this: My Grandfather passed about 20 years ago and left his estate to 4 children, uncle1, uncle2, aunt and my fatherThere are multiple properties/parcels (6 total) in the estate that are co-owned by the 4 siblings, all 4 names on the deeds.Uncle1 defaulted on his personal mortgageLien holder(bank) repo’d his home but home was underwater, and thus still owed beyond the repo.Lien holder found out about the shared/partner assets that uncle1 had with siblings and decided to go after themI'm not clear on the exact process, but I believe the bank will take possession of uncle1 (1/4) share in the partnership properties then will legally force the 4 way partnership to be dissolved through a court proceeding.The other partners or another investor are able to buyout the bank owned (1/4) share at an appraisal price.The appraisal is filed with the court so there are no shenanigans with valuationIf no buyout then the whole property goes to sheriff saleTwo of the parcels are rental income farmland, these are the ones I'd be interested in investing inNobody in my family nor my grandfather are/were farmers, the acreage has always been rented outI’m trying to determine whether I can buy out Uncle's1 share from the lien holder bank at the appraisal price with an IRA LLC and become the 4th partner?

In the Dallas area, it would depend on what class of property you are looking for and what your acquisition parameters - financial targets - are. 

If your plan is to buy it, fix it, and sell it when it's done, then you need to get your reno cost way way cheaper than it is right now.If you are using hard money lender, then the rental income is not going to make sense financially, you would be much better off investment elsewhere

We are just speculating on the upward moving of this market because the house price keeps rising and there are organic factors that support it so in a moment we think negative cash flow can gradually be covered by picked up rising rental rate, but i guess its not financially sound on this deal