I heard that you would need to get neighborhood approval in addition to the city approval... 

They will have additional costs for mailing & online campaigns to get leads.

Let’s break this down because there’s a lot to unpack here.The real question is, how well is that debt working for you?

Yes, I still did my own due diligence but PPR saved me hours of additional research.Perhaps the biggest reason I ended up working with PPR is because of the BiggerPockets community validation.

Feedback has not suggested property needs additional repairs/work, only that they are looking in a different area.

Purchasing the LLC gives you ownership of the property, but it also opens you up to additional legal exposure since the entity has been active, and there is no way to really know for sure what else they used the LLC for.

They obtain and manage capital, whether it’s private equity/debt, bank financing or personal capital.

He has owned it for over 30 years and has no debt, so seller financing is possible and he doesn't need a large amount of cash soon. 4 of the 6 units have been recently updated. 

On the specifics of this 700 a month program.. its small money and if you get inspiration from it then by all means.. but so many ( not saying you of course) will go into credit card debt for this stuff.. that's no beuno .. 

We rehabbed the entire property and added an additional bedroom to each of the units.