https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

@Andres Triveno, operating the LLC 100% means that we sign contracts and other documents as member or manager of the LLC instead of using our own names, we have a business phone instead of using our personal phone, we have a business checking account for business spend.

As opposed to fixer SFRs, you can figure out who a lot of potential buyers are, and assign the contract during escrow. 

This also leads owners to ASSUME simpler is better when it comes to management contracts.

Have you seen people who are weary of contingent contracts be willing to offer more in concessions at closing to help cover the bridge loan?  

The area is loaded with men on 1-2 year contracts who have homes some where else and they just need 1-2 years of safe, clean, comfortable housing and the only other option is seedy hotels.  

Utilize VA Loan Guide, BP Calculators, and Contract Templates.Good luck!

I would suggest to check these things out before an offer or while under due diligence before the contract goes hard.I was under the impression he got it to rent primarily.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

You can always sign a contract to buy the remaining properties anytime with a closing date scheduled for the future (not sure why he would want to do that though since we don't know what will happen appreciation-wise).