Initially wanted to hold forever but with insurance costs rising/property taxes going up/threats of Hurricanes destroying home, considering cashing out.  

I've already paid $4k for their initial work.

I understand doing an initial BRRRR on a low cost property so my subsequent information is something to ponder possibly only for future consideration.  

Initially my draw to investment real estate was buy and holds to build a legacy for our children (one of our kiddos will need finances covered for him beyond my husband’s and my life.

We have ~$50k to deploy initially but plan to make 1-2 investments each year (maybe more) for the coming years.Thanks for any guidance and looking forward to connecting!

My thought process is to purchase the property initially under my name so that we can pay 5% down as my understanding is that mortgages to LLCs are more difficult to find, have higher interest rates, and require a higher down payment (around 25%).

If you’re aiming for long-term appreciation and low maintenance, the brick property might be worth the higher initial cost.

Good news is that once you get traction you will be able to hire a VA to make the initial calls for you so you focus only on the hand raisers.

However, you do need to handle this situation carefully, make sure you follow a standard screening process to avoid any Fair Housing Act violations.I'm honestly not even sure if you can initiate the conversation with the parole officer, if they reach out to you, or the tenant provides the info and offers the opportunity to call them, that's a different story.Make sure you apply the same screening criteria you use for all potential tenants. 

I still think looking for a TLC 2-4 unit can be a good idea to open up the ability to upgrade/renovate to speed up the equity position and tap into the ARV to pull your initial capital back out plus in most cases enough for the next down payment.