I would definitely have some reserves saved up in the event that anything comes up. 

The elections really threw things off and now we are into the holidays.

They're good to have open access to capital/cash/equity to a property ahead of time so you can execute a deal or purchase when the time comes on a split second decision (versus having to apply to a loan at that time which might take 20-45 days to get approved/closed/etc plus by that time you dont know what your future income/credit/assets will be like in order to qualify anyway).The second use is sleep at night factor and having a reserve of capital in the event an emergency event occurs in life.For these two reasons is why I use lines of credit.

Would it be advisable to move my LLC from Florida to Delaware also in the event I need to go to court to recover the loan would an llc in Delaware be better? 

Event with all that the sale prices have been over the list price on average close to 1.5% over, which would seem a bit counter.If rates end up dropping a decent amount at all the prices could rocket even with inventory growing again. 

Or the tax event also occurs at conversion....idk just thinking.

Hi Myriam,Welcome to the BP forum and starting can be a little confusing but that is why we are here to help. 

UPDATE:Yes, we are moving forward and the numbers on the purchase price, and terms of the deal, stay relatively the same (in the big picture).We opted to pay the agent out of our pockets.

Go to GET STARTED > EVENTS AND MEETUPS at the top of your screen.

We are purchasing and rehabbing a short term rental, but need to decide whether to put  in our names or in an LLC?