Your 65K house may not be at market, but it's the cost of acquisition as well, so legally you're at 65K without drapes I guess.Nothing says you can't get a good deal.I'm totally aware of how all this works, how investors or dealers acquire a property and borrow more than what it's original purchase price was or at full value showing higher values based on repairs made or other comparable properties, how partnerships can be formed, how interests can be pledged and the justifications given, so I won't go down that long road either.I'd expect you to stick by your opinion, I've never known you to admit even being slightly off on your opinion since I've been here, that's not saying you're right, but I understand that when your business model is touched upon you are very protective of the basis of operations and that's fine.What I stated stands in court, gurus have been nailed over such claims.

We hired an attorney to fight to keep that specific property out of bankruptcy court to no avail.3 years later and $10k-$15k in attorney's fees we got paid out of the bankruptcy sale a little more than $220k.

How to proceed with signing lease?

Of course they will sue everyone if it's serious, but your right, you can petition the court saying that the holding company had no activity and therefore should be excluded.

Thats a big chunk of money each month and I am not sure if the IRS will view it as a disguised sale or the courts for that matter.. hmmm lets hear Bill Gulley wise words of wisdom :)

These are nearby but in different towns, different agents.How should I proceed scouting for NorCal - east bay deals?

There is just one document... the deed.The deed is recorded by the clerk of the court in the county where the property is located.

Well, @Andy Bui, keep in mind the advice you get here is worth less than you paid for it.Those professionals who you think charge big fees are backed by a license and a big ole malpractice policy standing behind their advice.No one on this board who tells you how to setup an entity or structure this or that is going to stand up with you in a court and defend those recommendations.Sites like this are a great source of ideas, research and learning.

If at any time during the term of this agreement, the title is discovered to be unmarketable, the tenant/Buyer will then have the option to void this agreement or proceed herewith.OPTION PURCHASE CONTRACT______________________________(15) PRICE AND TERMS: The Tenant/Buyer agrees to pay for said property the sum of $________________ _________________________________________________Less any sums for which the Tenant/Buyer is entitled to claim reimbursement or offset in accordance with this agreement; the net sum to be paid in cash, certified check, or cashier’s check at closing.(16)OPTION MONEY: Option money [] has been paid upon execution of this contract to Seller in the amount of _______________________ Dollars ($) in cash. _________________ will receive $_____________ of option monies paid to Seller as a fee for arranging this transaction.

Hi guys,I started out going to the courts and composing my own list of probate sellers by hand.