Now you have to obtain a building permit for the 4 family dwelling, even if you are not planning on doing work there.This was as simplified as I could spew out, but my recommendation would be to hire an architect who does these types of application routinely to take care of the whole thing.

I might be simplifying too much but if your cash flow is $360 or even $400/month and you could have $1500 - $2000/month, I think the performance evaluation is very important.Several people have asked me how I have executed my sales and purchases and maintained all the timelines for the 1031 exchange, etc.

This was explained in the previous answers but I'm going to simplify it for you:If you own the home outright then a seller finance option would not affect your credit score and depending on how you structure it, the additional income may help your borrowing ability.If you have an existing mortgage on your home, you will need to see whether there is a due on sale clause that will be triggered when you sell the home, you will need to investigate the mortgage wrap clauses that apply in your state. 

Thats still big huge risk of simplifying the "what if"....again you dont know their skill level, or health of anyone reading your advise or reading what it meant that you "handled it yourself" or saying theirs "no risks"I have seen  landlords who tried follow remediation protocol still get very sick from over exposure to mold  damage from his own units and he appeared to know the steps with neg pressure, containment and ppe etc.

It needed to enable me to document a simplified version of the process through which each new investment would follow as well as the benefits of the strategy.

I recently stumbled upon a simplified version that achieves the same outcome.

Here’s a simplified example:Loan taken out for $100,000 at 10% interest:Annual payment made of $25,000Year 1 interest = 10% * 100,000 = $10,000Principle paid = $25,000 - $10,000 = $15,000Principle due at end of year 1 = $100,000-$15,000 = $85,000Year 2 interest = 10% * $85,000 = $8,500Principle paid = $25,000 - $8,500 = $16,500Principle due at end of year 2 = $85,000 - $16,500 = $68,500Year 3 interest = 10% * $68,500 = $6,850Principle paid = $25,000 - $6,850 = $18,150Principle due at end of year 3 = $68,500 - $18,150 = $50,350Year 4 interest = 10% * 50,350 = $5,035As you can see, as the loan progresses through time you owe less principle and so you are charged less interest.

Formed a partnership with a friend and created an llc we also got a tax Id to simplify it.

We are funding multiple flips and multiple flippers right now and want to simplify how we track these investments. 

I'd like to simplify by taking bookkeeping off my plate.