Thanks for all the comments:Fantasm, I have little to no intention of building being my source of income for the next 5-10 years if ever again so that is not important to me.One thing I failed to mention is the loan is INTEREST ONLY.

Or whatever you intend to do...As long as you fully disclose your intents -- and as long as you don't sign anything that would prohibit you from acting on those intents -- I think it's safe to say that there is absolutely nothing illegal about what you're doing.

Insurance is a good idea, but it will not cover intentional acts or illegal activities.

There is a matter of intent, too.

Or can I use my existing one (which I don't intent to sell) to make the offer and once the offer is accepted, then add the new LLC (which I will form), and then quit claim deed it at closing to my new LLC, at which point I will sell to my buyer.Does that work?

Yeap...they can target short sales or purchase the property subject-to with the intention of selling with a lease/option or wraparound mortgage.

Amazing how so many threads turn from the original intent or discussion to attacking the messenger .

Ultimately it depends on the price of the property, your intent, etc.

Craigslist can be pretty savvy in popping spammers whether your intentions are good or not.

If on the other hand your intent is definitely to sell then make sure you check what this person needs to qualify for a loan and you create a plan to get them there.