If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Many will also require a third party due diligence report from a company like Mick Law or factright (which they run around $30-$50k). 

Capital always tends to be the sticking point, especially right now due to market conditions. 

@Claude Diehl,You don't need a CPA or tax expert here; this is a straightforward transaction.

It's working out ok other than some latent defects the seller hid from me and my inspector during my due diligence period.

The Bayport Dr deal intrigued us due to its market-ready condition, favorable purchase price, and high potential for profit with minimal effort.

I am now seeing how the REI Nation process works from start to finish and as someone who also owns my own rental portfolio here in Memphis in what I consider solid neighborhoods but also used leverage to purchase, sometimes your cashflow gets evaporated due to CAPEX and there isn't always rhyme or reason to it.

I’d love to hear about your strategy and how you approach due diligence when expanding to new markets.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

For the LLC, talk to an attorney and your tax person.