They more than likely are using a trust and or LLC. 

I will do this using a member resolution stating I contributed 20 percent and my wife 80 percent as that's how the ownership split works.

A:  Then don't make an offer until you are surer of what the rents are.2) Again, those numbers exclude the amount I'm paying myself for PM, but point granted.A:  ALWAYS estimate using a PM other than yourself.4) Thanks for this - is this because at my cash flow projections I would wipe out 1-2 years of FCF + Capex reserves?

You have more of what you need to do real estate now than 99% of folks that start.My best advice is to stay in construction (you have an established track record) and use those contacts to rehab properties using a BRRRR strategy.

You could start by "house hacking" or doing "live-in flips" using a VA loan (0% down options available).

Using a GOOD buyer's agent can have huge advantages.

You want a product as food or better than the homes you are using as comparables.Without seeing your project I'd be very tempted to gut the exterior walls at least so I could insulate.

If he is using a third party servicer, which presumably isn't changing, it seems a service transfer notice isn't needed, but would he need to send a notice that the loan has been assigned?

So here are the numbers....Purchase price $55,000Closing costs $3500Renovations (my initial estimate) $35,000Taxes $5000/yrARV $130,000Target rent $1600/monthI am purchasing using a hard money lender, then refinancing through my credit union after 6 months "seasoning".

I've seen many a trust sold to people that didn't really need it, like using a bazooka to kill a house fly.