Or do a cash out refi to scale up.

Who owns the house, your or the LLC?

If the drywall cracks in the next year or two, or the doors start to stick, then you likely have a larger settlement issue going on, and will likely need to call a foundation repair contractor. 

in a stick frame market and one of the cheapest markets to build we build with margin at $190 or so a square foot. that will go up over time about 5% or 10% a year to keep up with new build price increases. we are buidling a 3 story walk up and source some of the lowest priced crews.

I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

Honestly, I don't think there's a one size fits all or a right or wrong way to invest in real estate.

I currently don't show income and just left my other place of employment. I am self employed but want to build a spec home using the equity in my house as collateral. I currently have about 420k in equity. Are there o...

The mortgage payment is $1,000 on each house, so you earn $500 per house or $2,000 monthly.

There might be other states added, soon or down the road.

A lot of our housing stock here has finished basements or in-law suites, so with something like that you can generate significant rental income for an inexpensive conversion.