Originally posted by Account Closed:Turnkey out of state are a great option if you dont care about making money.Just go over their pro forma-its like they never heard of the word EXPENSES.Ask yourself why in staters arent their target market.What's your basis for these?

Pro forma rent of $1400/month. 

What I would like to know is, is it possible to have a trust owned LLC structured like an S Corp where the trust is the entity controlling the business leaving it so we do not have to form a LLP therefore not being "members."

What I'd like to know is, is it possible to create a trust owned LLC structured like an S corp where the trust is the entity that controls the business leaving it so we do not have to form a LLP and therefore not being "members" and being taxed into our personal incomes?

Under the right circumstances, I've seen sellers form a business entity (LLC) to buy their new primary residence, and then the LLC rents the property to the owner of the LLC.

I search for something that will provide me a decent monthly profit and in an area where i believe i can trust pro forma to help me out when i plan to sell and 1031 into something bigger in a few years as long as we don't have a big crash (which some were saying could be imminent).i'm sure you've seen me post of the last duplex i purchased. 130k+100k in renovations

Let's throw up pro forma's (average month's numbers) of our "typical" properties.

Bring stamped plans and permits to a local lender with your pro-forma.

https://www.hudexchange.info/resource/729/sample-development-budget-and-operating-pro-forma-for-a-commercial-and/or-mixeduse-nsp-property/Plug the numbers into this pro forma to see what your real profit will be.

To be extra safe, consult a local real estate attorney.If you truly can't assign the contract, then form a relationship with a transactional lender and just do double-closings.