It was just a multi-family property that came up local that was rented, thought I'd reach out to the realtor for a rent roll and practice running the numbers on it.

So for all practical purposes, when the dust clears, I would be buying at full retail, if not more.  

Would the best practice be to form a new LLC where all four of us are managing members?

Having funds in hand and having had them in hand for a week, and demanding a verification of funds from the paying bank is a rotten business practice. 

None of the above works unless you take action and put it into practice.

Hello, I am currently doing long distance flips in Pittsburgh, PA and I am from Long Island, NY. I have found all my current flips on the MLS and want to start building a system for deal flow in order to grow. How hav...

Each input is so helpful and practical. 

The board of the HOA has reached out to some carriers, but what they're finding is that many large nationwide carriers have a practice of not insuring clients that filed claims in the last three years. 

However, I recognize I still have much to learn.I would highly value advice from veteran investors on finding the right opportunities, understanding regulations, financing projects, and overall best practices.

@Oliver MartinezAssuming you qualify conventional lenders can do those deals, but the issue is they make practically no money doing small loans sub 100k.