Assuming this is an 8 cap neighborhood you'd have a ~$420-450k value within a year (unless property taxes are crazy high) when leases would renew since it'd be valued as a commercial building with the office space.

Depends on which property you pull equity from.

You do not need a separate LLC for each property or a series LLC!

Quote from @Paul Whitehurst: Many will tell you to borrow money from Property A to purchase Property B, but that's known as over-leveraging and not recommended for a newer investor.

Happy Monday!Say, I have a potential client that has asked me to value a 7 unit apartment building. I have all the income and expenses. Does anyone have a "program" or formula to use to establish a reasonable list pri...

Most also work off of call lists that are incredibly outdated, so anything you do today likely won't have an impact for a while....I received a call from an idiot on Tuesday wanting to know if I would sell a piece of land.

If you ask a banana farmer if bananas are good for you, he will tell you they are absolutely necessary to a healthy diet . . . and he happens to have some he can sell you.You asked if you need an LLC.

Even though I wasn't a good asset manager, I made money on my properties. 

Property has been owned for about 3 years now.  

Your son will be forced to sell or refi, and I bet you that this deal can't handle that situation.