Doesn't look like there's a lot of competition on this home, which is also kinda worrisome since on paper it does seem like a good deal to me (a self-admitted newbie) - I figure there'd be some more eyes on it.What are your thoughts on the location, if any @Wayne Brooks? 

Do you think I could arrange this myself between them without the need to get a lawyer involved?

@Clayton Hutton As Jeff suggested, a fair deal is what all involved parties consider to be fair.

For the average flipper this deal probably wouldn't command a high enough profit margin to justify the work involved, but if your goal is to buy-and-hold, this could be a real winner.

If you want the trust involved just have the trust the owner of the LLC.

That one really opened my eyes to multi-family.  

More specifically an investment property that involves the BRRRR strategy?

The typical issue that arises is bankruptcy where I have been involved in one that drug on for 2 years

I am not familiar with the laws in Texas nor have I ran into a situation like this but I would imagine you would need to involve a lawyer who specializes in land.Being that the owners do not want to sell the actual property the home sits on, I believe that would legally mean (*I am not a lawyer*) that at any time they could say "Hey I want to use or sell my land, get off it by tomorrow" and they would have the right to do since they own the land.Also, another hairy situation with that would be who pays taxes?

Asset Protection is not just about preventing liabilities A true asset protection plan involves protecting you from the Big 4 wealth destroyers: 1.