I personally wouldn't do this with the current state of the market unless you are doing value-add.

That's how it'll work out.For your personal situation, my personal opinion if you and your wife are trying to start up quit getting cute with investing and go buy a really good SFH is a good neighborhood and cherish family formation.

Especially now that you've posted your suspicions on a public forum, I'm not an attorney, but I've watched enough Law and Order that I could see there being the possibility of you being charged for "Aiding and Abetting" their crime by not reporting it or "Criminal Facilitation". 

I ultimately do want to be the person who owns the assets.

@Mike Hern Hi Mike thank you for getting back to me. i did ask the person (a realtor who was at the auction who told me about that stuff after i had placed my bid) who ran the title search but they just wanted to make money it seemed cus when i went to ask them they said they dont know how to read it lol or tell me if i bid on a 1st loan or 2nd loan which was i even asked for it from her. how else can i know or should i run a title again thru a lawyer or title insurance company ?

I do like to do it that way for a couple of reasons, your name appears as an Insured and the true owner is not the primary insured.As far as the cost difference, in our area I have found that, for the good properties, the personal policies (dwelling fire) can be cheaper. 

You can afford the personalized training AND still have money to buy a property with3.

They have to have a great personality and be willing to completely let go of any control of the project.

The very aggravating part is that I never hear back from the person.

I personally would stay away from an attorney because many of them do title on the side.