He is doing is shuffling the paperwork to cover his tracks, but it will only take a little longer to see who is behind the LLC and the trust.

I really appreciate the valuable advice and yes, I find the Podcast so valuable and even essential for me.

He asks to look at my contract, which I give him along with my assignment paperwork, disclosures, and an amendment I used to adjust the original price on the purchase contract.After a day he gets back to me stating that his "attorney has advised that he make the offer to the seller and leave the name blank on the contract with his desired terms".  

If it dried without deforming, it will be fine.HOWEVER...If you have to patch anyway, and especially if you are paying someone to patch anyway, it will cost essentially nothing to remove and replace it.  

Just think of it as a rental once the paperwork is done. 

So, you might be left with $67K for purchase plus rehab, not $80K as in your example.  3) Rehab is an essential component.  

This also helps in case you get a real jerk who claims that fridge is theirs...then you have paperwork they signed stating it is yours.In my latest rental, it just so happened to come with washer and dryer.

I definitely would like to pick your brain on exactly how the paper work trail goes with your deal's since you are from the great state of Texas.  

It's possible nobody else bid of course and it will be put back on the market.I'd get all my ducks in a row paperwork wise and see what happened.   

The s corp has the same tax advantages, but more paperwork for employee tax deductions.