I used a lawyer and put the house in a land trust and bought the beneficial interest.On to the #'s PITI- $615Rents- $850 (I was shooting for $900 but the renter agreed to fix anything that costs less than $100, so far this has been great for both of us)The house would appraise at around $85K and before the dad passed he put a new 30 yr roof and new AC each less than 2 years old.

Benjamin Hills at 21st Amidon, 17th/West St or neighborhoods around Rolling Hills Golf Course on the west side might be places to look.Minimalist Urban Apartment living - quite a few choices downtownHave a price range your wanting to stick to?  

We made a choice to invest in a duplex in Edmonds and keep renting in the area we love.

What it shows however, is that there is also a resurgence in the segment of the housing market that appeals to young professionals and others who seek an urban lifestyle, and live in the city by choice, not necessity.Disclaimer: Detroit is very much still a difficult market for the average investor.

In the end, my only choice was to get a soil sample test ($500) and based on the results, assess the level of risk and choose to move forward or walk away.

We are buying a few choice pieces now to flip quickly so that I can get a cash flow going to build this business with. 

How can I structure a deal to make this beneficial for both of us?

With cash being tight I must wonder, is it beneficial to pay now to set up an LLC, as if maybe lender I will be looking to work with might require doing business to business only or some other good reason, should I do a few deals and later set up an LLC or should setting up an LLC come first before any investing is done and acquisitions gained.  ?

You do it because it's the right thing to do, the family needs a stand-up guy and you were the best choice. 

But I made the choice to pick a lender to broker your proposed loan to that will refuse to do it because they have an overlay that I forgot or didn't know about, and now at the 10 yard line realized that I screwed up and can't do your loan."