I'm a mortgage broker, so need a wholesale lender. 

Your quote are all across the board because some could be patching the cracks (cheaper ones), while others could be re-doing the section of wall with cracks (expensive ones).

Hi @Chris Garnes,I am an investor who has self-funded rehabs and also a licensed mortgage broker.

The mortgage would be $5,200 so I would cover the other $3,200.

Have $500K mortgage.

I actually had this account from years ago, before my Realtor days and before my mortgage lending days.

I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

These sellers paid much less than what the going rate it today, likely have no mortgage or low interest rate mortgage and do not need to push rents to market value to cash flow.They get solid returns at their current rental values, have minimal headache with current tenants and they don't need to do major repairs to get their properties sold for a solid value. 

Purchase price: $320,000 Currently have a long term renter, the rent pays the mortgage and other expenses but provides no cash flow.

When you sign almost all mortgage closing packages, you are signing an Occupancy Clause that states you are intending to live in the home for 12 months.