I purchased contracts and many times with the intention of refinancing the deals shortly after buying the obligation, which accelerates the yielddue to the payoff where the remaining balance is very important to look at.

Even if the SAFE Act does not apply in a deal, if a buyer objects later on and you go tocourt, the Act, as well as the intent of the Act, will be in the minds of the Judge and jury.

My intention is to get some experienc ethis year so that I am knowledgeable enough to raise capital for next years tax sales.My question is: Is LLC appropriate.

People have good intentions, but they also tend to make the same mistakes over and over...I'd learn a lot more about the new, consumer-friendly aspects of lease-purchase deals, then decide if you really want to go down that road.

Brian you are intentionally eaving out the opinion of condition of the property which was in the first posting and runs throughout the thread.

Since you don't have a security agreement to govern any foreclosure, you'll likely be ordered to go with a judicial foreclosure and there, you could be slapped with paying your tenant to get them out.Also, the SAFE Act specifically mentions Options and also includes language that leaves any method or scheme that effectively extends financing in a transaction or that attempts to circumvent the intent of the Act.

(possible short sale intention right now if nothing high enough is accepted?)

I will avoid renting any properties purchased for the intention of flipping.

Bill, it was not my intention to offend you.

Proving the intent was probably a hurdle for prosecutors and the new laws specifically address the issue making it bit easier, I suspect that's why they are being adopted.