I've got a 5-year old judgment in Virginia Beach (total value of judgment, legal, and interest currently around $8,000).

But you definitely want to have that information in the lease for legal matters.

Although not a commitment it lays out the salient bsiness terms and general legal requirements that are expected between the parties.

A straight lease-option can probably be done, as to doing it legally, it depends on which L/O deal you're involved in, what your position might be.

It might have back taxes, code violations, etc. that with the work involved make it upside down in value more than if you got it for free and fixed up and try to resale you still wouldn't make money but might work as a rental etc.You might want to look up who the filing BK attorney was and see if you can make contact with them to see where all of this is at.No legal advice.

No legal advice.

I encourage you to get the proper legal guidance on this transaction as Will Barnard said, & perhaps consider working with an experience investor in your area to help you put together the deal.

Is it legal?

For single-purchase raises for a specific asset it seem that best from the perspective of the promoter would be defined as:Least transaction costs and friction for presenting deal to investorsBroadest possible audienceLowest cost of capitalAdequate protection from lawsuits or legal risk both at the time of subscription and on a go-forward basisHighest likelihood of finding or maintaining relationships with investors for the longest period of time possible The motivation for a blind pool would be largely the same, but one would place more emphasis on the ability to forge long-lasting relationships with investors so they'll continue to invest in future placements or deals in general.

Ron I can't give legal advice.I will say that I deal with attorneys for my clients on commercial deals and some are good and some are amazing.