My bet is both those will be redeemed prior to auction.  

Operations- how will operations be performed4.

Details here: https://www.biggerpockets.com/forums/521/topics/1214849-dmv-...I recommend checking them all out initially, I bet you'll have a lot of fun networking!

Hey Becky,When you sell the property, the LLC will still technically own the property until it is formally restructured, so you will need to amend the LLC’s operating agreement and update its ownership structure to reflect the change, ensuring the absent partner’s interests are properly dissolved, and taxes are handled accordingly.

Given that this website invented the term "house hack," it's only appropriate that BP as a business pull off an "office hack" - and btw, yes, the financing is better for owner operated offices, as well) that blunts much of the risk.We all know folks that purchased lots of SFRs in the aftermath of 2008, I also know some folks that purchased offices in the aftermath of 2008.

Even small-scale operations like beekeeping, organic farming, or growing specialty crops (e.g., lavender, hemp, etc.) can generate income.Hunting Leases: If the land has good wildlife, you could lease it to hunters during the appropriate seasons.

The operator's track record may not align with your goals (you are long term cash flow play, they are sell and redeploy, or vice versa).  

Several things to consider: 1) One of the main purposes of segmenting your assets into separate LLC's is so that your personal net worth or equity in other business ventures or properties isn't exposed, so unless you have a high net worth or a lot of equity in a property, it might not be worth bothering going the separate LLC route, especially when it restricts your financing of the property.  2) Most any commercial financing you get from a local bank for a small property is going to have recourse anyhow and require that you sign a personal guarantee, so you're still personally on the hook to the bank even in the case of a commercial loan.  3) If you're a newer investor and buying a deal that's tight on cash flow, or if you don't have a ton of cash sitting in the bank already, your greatest risk factor as an investor is your investment failing economically due to poor financing terms or not operating the investment properly, not because you get sued. 

Getting multiple contractors involved will be your best bet to get a reliable estimate, though you need to come up with a scope of work.

Verify the purchase price, potential rental income, and operating costs to determine whether it’s truly profitable.Understand Debt: Taking on $500,000+ in debt is a serious commitment.