I've come across a piece of land that is properly zoned in a growing industrial area.

The proper timing and structure of that loan are unclear from the information in your scenario.

Yes, it requires work to run an LLC properly.  

Your accountants will love you and hate you as they love you because they will charge you a fortune but despise you when you do not put money in and out properly. 

They said it was a lot easier and better to simply create a new LLC to properly match what you are trying to do.  2) So, that is the other route, creating a brand new LLC.The PartnershipThe hardest ship to sail is a partnership, and there is no "fairest way" to do things. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Your agent should be able to point out if the property was properly renovated or if they just slap something together to make it look good right before sale.

If they remain to be difficult and unresponsive after providing proper notice and communication, then maybe it's time to give them a 30-day notice to terminate their tenancy so you can do the repairs needed for your property.

With using the FHA loan, your offer loses a large competitive edge in the market, but a good agent will navigate it properly for you and also weed out the unqualifying homes.

I would just say that before you go full scale, get an attorney to order a full title search and do a proper review.