Quote from @Brian Gaiss: Hello, newbie to real estate investing, but looking forward to learning and networking with like minded individuals.

Taking care of someone's asset is a responsibility that you should not take lightly. 

In order to get a response, and validity, they'll want you to actually provide the basic filing and proposal of what you seek to change at the property/building. 

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Now, they are contesting the eviction saying in their response to court that  I did not repair two issues because of which they are withholding rent.

It seems I would need to submit around 100 offers just to achieve a potential engagement of 2% to 5%, with no guarantee of closing any deals.Thank you for your response, I definitely appreciate it.

Quote from @Robert Pfenninger: @Charles Thank you for you response!

i do think it's challenging, though, for a brand new investor with zero experience to jump right into a huge rehab with a contractor they've never worked with before.the contractor might want a larger up-front payment to mitigate their own risk, and they're not going to be interested in any kind of fancy nonsense like a 'penalty' when they know a new investor has never managed a large project before.i have also found that some contractors, including reputable ones, don't even want to share itemized bids because they just don't want to have to argue about the individual line items. 

Hi @Desdemona Bandini, We see that you already reached out to us through [email protected], kindly check your email for the response we sent and we'd be glad to further assist you.

@Nold R.In addition to the great post from Dave, possibly consider an option where the property is taken out of the LLC sooner rather than later and held as tenants-in-common prior to the sale, possibly setting you up in a position to take your share of the proceeds and individually purchase a replacement property via 1031 exchange.