If not, who do you believe the natural buyer is and why do you believe they will pay retail when they can replicate what you accomplished with any number of available properties on the market at any given time?

Remember, in this model, you are planning on holding on to these properties as rentals so pay now in quality, or pay later in headaches and repair costs.

I can sell it at any time for a profit, so I'm hoping to let it run and pay for itself for a while before we make another decision on it.

The LLC is irrelevant unless you are paying cash or getting a DSCR loan.

If you did DSCR, 20% down I have a Par rate at 6.375% so you pay broker fee but no points.

You have to put more money down and pay a higher interest rate and is limited to only 2% IPC.

Never pay an upfront fee.You didn’t mention your state but understand that with little exception, an NMLS registration is only required for consumer-purpose loans.

Then he is going to hire subcontractors to do the job and you are going to pay them for that work as well.  

Rather than paying for childcare services from a large organization, we found that it was significantly cheaper to pay for a second mortgage than to pay for childcare.

Welcome to Bigger Pockets and love see local folks getting into real estate investing!