Is this legal, and of course this is with their permission...what kind of incentive would you give the previous owner for doing something like this?

I'm looking for a company that understands the wholesale thing, a lot of them don't think its legal, who can help me with MLS lists, title, etc.

If he's a professional and has done this before he probably has a reliable financing source.Don't get caught up in the legality mumbo jumbo.

This would allow you to post a low rent for people with perfect credit (very few will even be close) and then once you run there credit you could come back and say they there score is a 610 so there rent would be like $550 a month.Would this be legal?

Rich,Is there a way around the owner occupied clause legally?

Yes, technically/legally you can.

i mean ok.. loss of use but depending on how long of a time frame its not worth the price difference in the policies. most insurance reps unfortunately really dont know their products inside and out.. and neither do alot of market reps and even some underwriters.. there are loop holes in insurance policies just like every other legal document.

In the real world, all kinds of legal shenanigans go on through the courts and that property you thought you bought may be ordered back to the bank.

What are the tax implications if you start an LLC and put the house in that and rehab it through the LLC?

I have subscribed to my local city legal newspaper and I am wondering if it is more effective to campaign to the people who have just had Lis Pendens filed or the records of the Foreclosure sale itself.