Almost sounds like a wholesaler without tying things up into contracts (which kind of defeats the purpose of a wholesaler).

If they did know, it would pretty much defeat the purpose of using PM.

Please do not "advise" me to hire an attorney to do all the work as, in my opinion, it defeats the entire purpose of the Series LLC as a low-cost vehicle for a rental RE portfolio.

The obvious issue-does this defeat the purpose of having an LLC in the first place?

I didn't realize the huge upfront expenses that pretty much defeat the whole purpose of doing phases.I already nixed the project and terminated the contract for the land. 

@Michael Peters, not really a good idea to put multiple properties under one LLC, otherwise it defeats the purpose of having an LLC unless you have very little equity in each of those properties and your assets are all hidden elsewhere.it also depends on how your LLC is structured - will it be a single member one?

But that defeats one of the main purposes of the BRRRR, getting your initial investment back.

Over the last 6 months I’ve reached learned and done things I never imagined I would have done (title searches, writing contracts, owning land in a state I didn’t it live in😂) theres  been huge victories some  defeats as well.

A broker told me that there are actually sellers who want to sell, but don't want to take the tax hit and buying or exchanging into another property at the current prices defeats the purpose of selling.

It almost defeats the purpose of an A-B and B-C transaction or double/simultaneous closing.