While Wyoming LLCs offer anonymity and tax benefits, you’d still need to register it in Alabama and California, adding costs and complexity.If you are not flipping properties, there is no need for Rehab LLC.This post does not create a CPA-Client relationship.

The building is small (1200 sq ft) but it has a charm with the vaults that I think could be rehabbed into a thriving business.

It also depends on whether your next purchase is a rehab, turn key, flip or hold.

I don't have experience with the Detroit Land Bank, but generally land banks are pretty reliable, but...they are low money buys (from $1 to $1,000) that require you to show proof of funds for the rehab.

Quote from @Jake Baker: @Andrew Syrios I looked at my last five flips to calculate the rehab cost overrun; the average was 15%.

Creating a scope of work is the key to estimating rehab costs.

.- we are starting a local rehab on Dec 1 (last unit in a quad).  

Effective December 1, 2024, ownership of the property has been transferred from Michael Anderson to Electric Sage Brush, a limited liability company.All terms and conditions of this lease agreement remain in full effect, and all payments, notices, and correspondence should henceforth be directed to Electric Sage Brush LLC at the following address:2001 Space Odyssey Dr, Cody, WY 82414This change in ownership does not affect the tenant’s rights or obligations under the lease agreement.All parties sign to confirm the change.

I do have a property manager on-site to address any concerns my tenants have. 

I also do 30-year cash out Refis on my rentals once they’re rehabbed and rented so am very familiar with DSCR loans and rules.