Lawyers Render Legal Opinions
All they can do is tello you if it is legal or not and tell you what the risk(s) are. In my humble opinion, the investor engaged in this type of activity should ask his/her lawyer about legalities, risks and remedies. 
As a lawyer, now retired, but long & still very active in RE, I'd just add that most lawyers truthfully don't know a great deal re RE investing, so don't expect great expertise from that source re IF or WHETHER any particular RE opp. is good, bad or indifferent.
While I'm probably more capable of assessing the LEGAL risks, there are LOTS of REIs out there who have tons more know-how than me on RE & how to make money with same.
Some, who have spent a lot of time on RE issues, are of course, very knowledgeable about RE legal issues, but again, the average lawyer is NOT...so don't expect expertise from just any lawyer.
When I'm looking at any RE opp which I don't understand fully, or haven't dealt with before, I sure consult with more experienced investors so I don't get more baloney than beef in my deals!
JohnJm,
Glad to meet you.
I wrote a short article on some things to look for in a Real Estate Attorney, some things I found important to me.
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&sid=172
I for one can appreciate your comments and hope to see you continue to post here on TCI.
Welcome on board this board, thank you again for sharing.
John $Cash$ Locke
Hi John L
Seen lots of your posts, and I have lots of respect for your opinions I've seen.
Thank you for your kind words and I look forward to actually meeting you somewhere down the road.