Look at what similar homes are selling for that are rentals as well and what they're renting for in the neighborhood.

It's very similar to Cleveland in terms of pricing and demand.

I was in a very similar spot when I first got started 4 years ago.

For example, failing to file a Business of Information (BOI) report correctly can result in penalties of $500 per day or even up to one year in jail if the filing is late.2.LegalZoom or Similar Services:LegalZoom can help create an LLC for about $600.

Looking into something similar in Arizona. 

I have 3 or 4 similar investments that fall into this same situation (muli-family syndications, etc.), so I don't think that suspending payments is unusual in this economic climate, nor by itself an indication of malfeasance.

,It sounds like you may be looking for something more like this:  www.synergypgh.com/wp-content/uploads/2013/09/Investment-Presentation.pptxThanks...that's similar to what I'm thinking.

Similarly, the seller (assuming they are not lying) is telling you that at their asking price, the rate of return the property is currently providing is X%.Here is the important point... 

@Chris RagerUsing Legal Zoom or similar service for a multi-member LLC is --- in my opinion --- legal suicide.

They come with strings and fees so whether they are worth it depends upon whether you can live with the strings and have enough gain scale to justify the fees.I was looking at Delaware Statutory Trusts for similar reasons and opted not to go with them as most I've seen are incredibly inefficient due to massive internal fees which grind into dust much of the tax savings, so what would be the point.