Short Sale flips: options vs. P&S?

[Dan Walters]

Anyone doing SS flips in ID or AZ?
My partner and I have been looking into doing the SS flip in ID and AZ. Initially, as everyone seems to be doing, we were going to move on a few properties with the option contract. After speaking with our investor savvy agent, she has informed us that the ID RE commission was cracking down severely on agents and brokerages for using the Land Trust and Option contract and then marketing the property. Since hearing this we have spoken w/a RE attorney in ID and multiple title companies and RE agents/brokers in ID/AZ(Phoenix) markets to see what other investors were doing to adjust if at all. The agents and title companies that are familiar with the double closing SS flip have said that lenders will not look at nor accept land trusts and/or option contracts. They are essentially saying that there needs to be a standard P&S w/full disclosure of intent on our purchase. I'm confused due to the posts that I read on BG about what other people are doing and what I'm hearing from agents and title in 2 separate markets.

My questions are:
1) Is anyone seeing this in the other 48 states?
2)What instruments are you using? (P&S, option, Land Trust)
3) What disclosures are you putting in the P&S?
4) Is it better to have a standard P&S and then add an addendum later w/all disclosures of "intent to remarket property and sell at a profit"?

I appreciate any information I can get. It seems that we can't get a well defined answer from anybody.

Thanks in advance,

Dan Walters
3915, LLC
[EMAIL REMOVED]

[Will Barnard]

Cash in bank. Write a check made out to "escrow" and stipulate in contract offer that EMD will be deposited into escrow within 3 business days of written acceptance. If you happen to get more accepted than you could take down at one time, either drop the excess or wholesale them off.