At first the pro formas had 0% vacancy and 0% maintenance listed, which I adjusted for what I thought was more realistic numbers.

@Danny R. the question on when to form a LLC or not is a hotly debated subject.

Hi @Joseph Kelly,You would provide a sample Pro-Forma including all purchase costs, rehab budget, financing costs, holding costs, taxes, selling costs, expected time to complete, ARV (After Repair Value) and derive a projected profit from those figures.

Originally posted by @Paul Enzinger:Almost makes you wonder if Small Landlords should form a group, like that of the Realtors.

I found a local bank that is considering lending some of the money and they are asking for the following items:Pro Forma - Do I create this or do I request this from the owner?

Of course I’ll pay the cost for the plans.Thanks  Best bet is to get pricing form a couple of local Gas that build the type of house you want to build.

And, apparently if you are a resident it will charge you for every out of state entity you form as well..Hope that helps.

I hunted down and located the current settlement form as well as the older HUD 1 form and I lack the experience to completely understand where that line item would go. 

You'll get garbage pro-formas but once you dig in you'll see they are pipe dreams.

The best way to do that is to form a new entity naming you and your buyer as owners.