When I have been in this situation as a seller or listing agent I have met it with a "umm . . . hard pass" each time because it fundamentally changes the terms of the offer. 

Hi Michael,The way to decide where to invest is to look at the economic fundamentals, which means, where is GDP increasing, where are jobs being created, where are people moving to.

I routinely work with numerous organizations that have a 1000 or more corporate vehicles including LLCs where sequestration of liability makes perfect sense given the relative active business risks which are enormous and the relative costs of establishing and maintaining the structure are negligible.So again I say show me a small real estate operator that has been saved by an expensive and cumbersome legal entity structure that couldn't have been done it at least as effectively and much more efficiently through fundamental risk mitigation practices which disciplines one to act responsibly from the outset.In other words, running what are essentially passive real estate activities by retaining competent and professional management and a modest amount of insurance coverage (which should effectively limit risk sourced to the RE activity), and if you need additional coverage (for risk sourced outside the RE) get some ultra affordable umbrella coverage.Now I realize you won't be able to able to strut down the street pretending you are a player because you have an LLC, but it seems to be a very very small price to pay for not being played for a fool wearing the LLC trappings of a clown.

When rates are very low for extended periods home values rise and even become disconnected from the fundamentals.

I actually laughed out loud for real reading this and spewed coffee.The safe harbor rules are fairly complex and I'm not sure you're ready for the nuances of that discussion given your lack of knowledge in the fundamentals.

This is my first time so I want to be careful that the fundamentals have been appropriately considered, particularly with the COVID situation.In a nutshell:Deal is a 32 unit, B-classPurchase price roughly 3.1m, the raise is 800k. 50 k minimum31 units occupied (all month to month) - seller is guaranteeing occupancy of 95% for 12 months (cash in escrow). 

But it's also averaged 6% appreciation per year for the last 40 years, and with the underlying fundamentals -- low unemployment, density of high-paying jobs, diversity of industry, low inventory and high demand, and great quality of life -- there's no indication this is slowing down.

Think also of the experience you might gain.I think a fair fee would be about half of what is proposed, or three times what a real estate agent's commission would be on this deal.Note: My opinion above is exclusive of the fundamentals of the deal (purchase price, rehab costs, ARV, finding, risks, returns, etc.).

For example, if you spent the last year studying and understanding rental properties, rehabs, and property management, would you reinforce those fundamentals or take an internship in an area less to your understanding, like marketing or analytics?

Yes, the opportunity to add value exists in flipping houses, but it does not change the fundamental activity which is that flipping houses is an active merchandise style business.