That will allow you to make a more informed decision about how you want to have the LLC set up for your unique situation.

My default decision is LVP unless I have a good reason otherwise.

If you're looking to build up capital more quickly, flipping could be a viable option.Best of luck with your decision—whichever path you choose, you’re on the right track!

If you're looking to buy turnkey, you might find a property that was previously used as a short-term rental (STR) but underperformed due to poor management or only seasonal use.

If you become too friendly as neighbors that could impact your decision making as a manager of the property.

I grew up in dirt poor projects.

In my experience these are the levels of how financial fraud is doneLevel 1 - The “sponsor” is a fraudster from the beginning and the entire investment is a designed fraud designed to steal the investor's money Level 2 - The sponsor initially intends to operate legally and honestly but the temptation of easy access to money, usually fueled by addictions to drugs, sex, partying, etc. leads to the bad decision to line the sponsors own pocketsLevel 3 - The sponsor intends to operate legally but a crisis in their life resulting in a need for money leads the sponsor to “borrow” from investor’s funds with the full intention of paying it back ( which they are unable to do).Level 4 - The sponsor intends to operate legally but the assets under their management incur substantial loses; the sponsor attempts to cover up these loses by “temporarily” borrowing from one investor to pay another or submitting false results.

It now has some positive cash flow (poor for its equity), but I am up over $650k above costs (including rehabs in the costs).  

I think in the end, it's going to be a decision of what to do...

For Flips:at least 50% of liquid cash for unexpected expenses or cost overruns of the property’s rehab budget additional to downpayment financing, closing costs and improvement funds.Too often you hear investors blaming the realtor for their poor decisions.