It's the cash you put in that's your cost for the property. 

We have an event this Saturday Feb 12, 2022, you can check out the Bigger Pockets page for it here:https://www.biggerpockets.com/...The group's page on Meetup.com is at:https://www.meetup.com/real-es...There is a $5.00 contribution which you can do in cash at the meeting as well, it doesn't come close to covering the cost of the space but I may be able to get another space shortly. 

(So unless they sell for much more than they paid they will only get a small percent of their down back, especially after selling costs,) but you did say they were getting a discount.

It's a good practice to overestimate costs and underestimate after-repair values (ARV) to keep your expectations realistic.

With your costs being less you can invest more into the property to build reviews and get bookings. 

What are the pros and cons of each, and which offers the least restrictions, flexibility and cost savings for my intended purposes?

The PMS around here are pretty terrible, I've worked with a lot of the larger ones in Cleveland and I think they just take on more properties than they can effectively handle and don't hire enough additional employees to make it work. 

It was mostly due to my day job income and low cost of living over a long period of time; however, real estate accounts for about 50% of our income through a small portfolio of short, mid, and long term rentals. 

https://www.biggerpockets.com/forums/93/topics/1224328-new-l...here is a thread I just did on Oregons new law that takes effect July 1 2025.

The seller's LLC pays capital gains tax and depreciation recapture, while the buyer's LLC uses the purchase price as the new cost basis.