Bottom line, you don't need a lawyer's contract to flip a house.

She worked with a lawyer to get the property in her name.

I am not a security lawyer so I couldn't tell you if a LP had been granted GP power, if that precludes it from being a security.

Note: I'm not a lawyer or an accountant and this is purely info based on research I've done.

I'm not a lawyer but a deed resriction isn't a deed of trust restriction.

I suggest a lawyer write the five day, and let them handle the eviction if needed.Welcome to landlording.

You should spend some time and money with a knowledgeable lawyer to be sure you understand how this process works in NY, it varies a lot from state to state.

I've called 3 title companies and no one seems to understand the process even after I explain it to them (assigning a purchase agreement over to a end buyer) I've called one lawyer that has never returned my calls and one attorney told me that I need to beware that what i'm doing is not borderline illegal !!!

3) Finally, as I underwrite this deal, do you think it is realistic if I assume about $100k in lawyer fees to foreclose on this property?

the only way it's even close to 'hands off' is if you have a helluva a GM, and pay them very well for running the show.Maybe you do weekly, bi-monthly or monthly meetings with them to keep tabs on things, but they are empowered and enabled to do what they need to.You have to resist micro-managing, and again, they have to be paid well.