They provide flexibility and efficiency, especially for experienced investors.How have you found the terms and structure compared to traditional options?

First, the bank won't even talk to you without some formal authorization from the owner's estate.Since the owner died intestate, her estate will have to go through probate.

The mortgage company gets paid off first, then in a traditional sale, the rest minus agent fees and utilities and closing costs goes to the seller.

I use Stessa for accounting, I love it, it links right to my bank account/credit card accounts and I can assign purchases to different properties and units of the property for multi-unit properties and at the end of the year I have a simple report to give my tax professional 

Start with a rental that has modest rehab requirements such as updating kitchens and bathrooms and make sure you qualify for permanent financing through a lending source that offers interest rates similar to that of  a bank.

@Raj VardhanI agree with @Evan Polaski regarding the 6-Month Seasoning Rule: Most traditional lenders require a 6-month holding period before you can do a cash-out refinance.

There are MANY good SDIRA companies out there across the US, and its not like you need to walk into the bank to cash a check.

If it would help to get a more detailed estimate feel free to reach out.Documentation is rather limited, just ID, bank statement, LLC documents to start.Sometimes there are interest-only options at 30 and 40 years, generally the difference in payment fully amortized over I/O is minimal so it may not be worth it.

He's content to just walk away and let the bank have it.

@Guillaume Vidallet I'll chime in here since it seems like everyone answered your question and gave some great advice.I'll suggest that whether you have one LLC or multiple LLCs you have separate bank accounts for each and make sure not to commingle any money.