Quote from @Sean Rowan: Quote from @Doug Smith: It's always been my experience that this is the big disconnect and, if we could all simply own up to our weaknesses, embrace our strengths, and find complimentary players, the lending process goes much, much better.

But we have a new issue on the horizon.  

The issue is the bank (seller)  has expressly forbidden me from accessing the property until deed is transferred.

They often miss things and end up with lots of title claims and issues. 

In our market, we see far more damage from heavy rain, drainage issues, and the occasional extended ice storm than from tornadoes.

Reposting my answer that I gave you on another forum:Short answer is that you (your LLC, to be more specific) will need to issue your relatives form 1099-MISC, and they - rather than you - will owe taxes on their portion of the profit.

You would be better off asking this question on the Tax forum where several tax accountants, including myself, answer tax questions: https://www.biggerpockets.com/forums/51-tax-legal-issues-con...Short answer is that you (your LLC, to be more specific) will need to issue your relatives form 1099-MISC, and they - rather than you - will owe taxes on their portion of the profit.

Hello, I was involved in a private lending arrangement for a property rehab in Fort Worth where the funds I provided (53k) for the rehab cost, which were handled by the investor's project GC/agent. The property is now...

In many states, the disclosure of an issue or a repair has a 5-year limit. 

One thing I would do is the foundation and the termite, check to see if you list it at market value if you can get someone to buy the place and disclose the issues and give them a credit or meet them in the middle or even 2/3s of the cost and you can save some money and maybe even get the deal to make some money.