Best of luck 👍🏻 @Justin This is almost perfect advice but you do need 3.5% down with an FHA mortgage.

According to your profile, you'd be a representative of a Mexican real estate agency I'd never heard of, even though I've been investing in Mexico since 2017 so I googled the name you give and, surprisingly, I didn't find a proper website, just an influencer-like Instagram account.

Have $500K mortgage.

However if you had done a warranty deed (or a special warranty deed if you still have a mortgage on it) instead, your LLC has a claim against you for the issue on the title, and you in turn can go back to your initial title insurance to fix it.Some title insurance will allow to transfer the coverage to an LLC that you own 100%, but not all of them do or they may require an additional fee.

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

Many banks handling tax escrow accounts for mortgages have mistakenly thought there was one tax due twice/year or totally missed one of the taxes.Investors should research the SEV and the Non-Homestead property tax millage rates to project what the property taxes will be after adjustment.

2) Their contractor must be properly licensed and insured and we require copies of all this.

@Chris LinIf you were to include Equity growth (from appreciation and mortgage pay-down) what sort of returns would you have? 

If there are newer multifamily properties near you (or properly renovated), definitely something to consider! 

Other CPAs and firms have quoted me 5k-10k+ but are no where near as responsive and personable as my current CPA and accountant.You are going about this properly.