Monthly Income:$3,600Monthly Expenses:$2,886Monthly Cash Flow: $713.72Pro Forma Cap Rate:7.00%NOI: $25,188Total Cash Needed: $7,200Cash on Cash ROI:$118.95%Purchase Cap Rate:7.00%PROPERTY INFORMATION4-plex  (2 bed 2 bath units)Purchase Price:$360,000.00Purchase Closing Costs:$7,200.00(2%)Down payment: $0 (VA LOAN)Loan Amount: $360,000.00Loan Fees:$0.00Amortized Over:30 yearsLoan Interest Rate:2.300%Monthly P&I:$1,385.28INCOMETotal: $3,600EXPENSESGarbage: $40.00Vacancy: $360.Maintenance: $180Cap.

If you’re looking to invest in Massachusetts or New England in general we may be able to form a partnership.

In my opinion, many new investors underestimate the monthly expenses required to maintain and manage OOS rentals and nearly every turnkey pro forma you look at will be bogus.

I'm not sure why you're hesitant to form a new LLC, or amend the current documents of purchase to add them to the LLC. 

In general, depending on the form, a title policy does not cover a loss resulting from an unpaid utility bill unless a notice of it is recorded in the public records. 

Perhaps you guys can form a partnership or an LLC.

May 2021: LOI submitted / negotiated (14 days totals)July 2021: PSA executed after 40 days of back-and-forth August - December: 3rd party reports, meetings with city, meetings with builder/partner, architectural drawings, pro forma revisions, etc Q1 '22: Lineup debt/equity June'22 - Ground breaking, with construction expected to last 16 months.

It means running lots of numbers on rental income(not just using pro forma rents) and projected expenses(does the house need a new roof soon?).

The pro forma rents are pretty easy to figure out in a primary market like CO, but understanding what expenses you pay can be tricky. 

Unfortunately the save function is not yet available on the Vrolio pro forma, but investors find that taking a screen shot of their spreadsheet is helpful.