The inspection will also vary depending on whether there are kids in the house or not - they don't care about a couple small flaking paint spots if there are not children. 

There are a couple hundred builds planned for this community but this would be one of the first few.

Going through and underwriting a couple of SFH BRRR opportunities I've came across in the Indianapolis MSA, specifically Marion County. 

A couple expense assumptions:Insurance: .6% of market value per year ($1300 to $1700 for garden variety SFH)Repair buffer: $50/moPM: 8% of gross rent + 80% of first months rent HOA: Ranges from $0 to $50/mo.

Do not think you can just start an investment company with 15k (that is reserves only on one property).Work for the next couple of years while you all learn and use your skills to help build the foundation of a future company and leverage your relationship with the alumni to see some of his properties and learn.

The non tax-free portion then qualifies for $500k CG exemption for primary residence for a couple?

Seems like an overkill and all you need is an insurance policy as any good attorneys first question will be "how much did the LLC who is to be separate from you pay for the property" - when the answer is zero and it was gifted. the next question will be do you gift properties to others as well?

@Jessica ZolotorofeHello From the Future ;)Ive spoken to a couple title companies, and transactional lenders and I have not heard about double closings/backtoback closings being illegal.

I'm sure it would be like giving an Uzi to a 10 year old with someone like a couple in this thread trying to duplicate and 2.

I have quite a bit of equity in a couple of properties and have been debating my next steps.