New investor attempting to use wholesaling tactics to find my first property to BRRRR for myself and I stumbled upon a probabte lead after cold calling an equity list. The potential seller isn’t looking to sell her ho...

I've seen so many errors made on entity classification when obtaining an EIN...it doesn't really matter what you tell the IRS at that step, what matters are the facts and circumstances.What you're describing is you and your partner own Holding LLC, which owns 100% of both First LLC and Second LLC?

Not too big of an issue other than he had to adjust square footage due to an error on their end.

I'd make sure you calculate a safe margin or error.

I'm completely new so I'm worried my estimations have a lot of room for error.

@Mikael Persson Hi Mikael, it could be that I am making an error, and I really don't know - thats why I am turning to bigger pockets, I made my own mortgage calculator in excel and I am using that. 

Me and my mother are rookie investors and want to be educated on the business.

I'm just now listening to your BP Rookie podcast.

Work with your PM or another one to get this one profitable...you are on the right track (may involve some trial and error).

As this is my first rental property I would love to hear from more experienced people to hear about the errors you initially made, or just things you had wished you'd done differently, so I can learn from you and start off on my best foot.