I was approached by a wholesale partner and flipper partners (whom I’ve done private lending for) of mine about me purchasing 1.5 acres to develop 12-16 single family homes on.I would be responsible for purchasing land and getting it prepped to build. 

I just have never heard of this kind of experience and am wondering if others have run into any debacle like this. title company checks normally dont get held I know mine never do.. last year when first american got hacked I had closed a deal and had a nice size proceed wire due and it took 6 or 7 days for FATCO to get the wire out to me..

I inquired about the possibility of a two-company structure: A traditional LLC that is the public face of the activities (collecting rents, paying contractors, etc.) and managing the Series LLC with each property in once cell in it (in this case, Series LLC is serving as a holding role).Again, one attorney said that would be much better than a standalone LLC and that is recommended approach, and the other said it is waste of time and money since there are some requirements from Texas Real Estate Commission, which is requiring being a licensed broker in the state to operate in the managing LLC.So, just want to hear what other Texas investors are doing when it comes to series LLCs regarding these issues. 

When I was made aware by a colleague of mine I emailed them.

Hi everyone, We are looking into a deal to purchase a 5 unit apartment building that currently operates as a short term rental.

If it's a layered LLC, most lenders will need to trace a warm body on the operating agreement which will involve a bit more paperwork trail.

Are there any insurance companies that people would recommend for this investment strategy that do operate in the Austin, TX area?

Yes this is a Refi on a commercial property with additional large cash out included for sole purpose of reinvesting into another property, as well as a large operating line of credit in addition to the Refi is included.

Non-profits and/or sober living operators may also be interested, depending on their needs.

Balance Sheet is a snapshot of the company's financial health at a specific point in time.Income Statement is a showing us the health on an operating POV.