The seller "understated" the extent of the damage.

But when we pass a Fee estate, fee simple absolute a General Warranty Deed is used.Accepting a QCD from an institution or business entity or governmental body is much different than from an individual owner as individual ownership interests include inheritable rights and homestead exemptions along with marital rights under state laws.

A militia is under state control, always has been and is now known as the National Guard.

This highly specific under state law.

Ground game cannot be understated.

If not, he needs to comply with the SAFE Act, and your transaction, will not be owner occupied and may under state law be considered a seller financing transaction which means you will need to comply with the SAFE Act as well.....And, you need to check under state laws as to how lease-options might be treated with the new Consumer Federal Protection Agency (CFPA).If anyone tells you that this type of arrangement is OK to do without being concerned with those laws, they don't have a clue and it sounds like you're being coached by someone that has an interest in the deal.

More to this point which is WAY understated. 

That's ok tho, you can raise capital under 508 SEC rules (there's a lot of them), or you can just keep the deal and investors in your state, and raise it under state laws.If you don't have a cooling period between deals, you basically are selling securities full-time, and have to get a stock brokerage type licenses to sell it, thus why peeps like to do a fund, so they can raise a bunch of capital, then do a bunch of deals or one bit deal over the cooling period.Truth is, most people just keep it at arms length, if they have known you for at least a little while, then they do business with you as it falls under the 508B rules.I decide it was better to just take the plunge, and go full 508C.

First you need to find out which entities are allowed to mask the true ownership under state law.

Doing so you you understated your assets, and overstated your expenses.