Once the 1031 is complete the LLC dissolves and again the property is distributed to the former members, including the properties just purchased in the 1031 exchange (which each member probably picked out for themselves).This method solved the feared "held for investment" issue. 

Quote from @Andrea Lucarelli: I’m interested in beginning my REI career with purchasing a SFH or condo in Cleveland area (safe neighborhood) to list as a furnished rental for travel medical professionals, supply corporate housing needs, or house temporarily displaced families for insurance companies.  

Does the LLC legally own the property that was purchased? 

I have programs that require only 10% down for the purchase, and will finance 100% of the rehab.

Numbers are the following - purchase price $120,000, rehab $75,000, ARV $250-265,000.

We are seeing much longer wait times on purchases to be cleared for disbursing funds than refinances.

Hello,I purchased my first rental property last year and rented it out for 10 months.

If you're looking at a debt service loan, 15% is the minimum for a purchase but it's much more common (and rates are better) at 20-25%. 

Purchase price: $185,000 Cash invested: $35,000 Sale price: $671,000This was our 3rd home.

Purchase price: $900,000 Cash invested: $15,000 6BB/3.5Bath 4000sf on 3.4 acres near several wedding venues.