An LLC that elects to be treated as a Corp depends on whether the election is C Corp or S Corp.  

There'll be a prepayment penalty but I can always refinance a few years down the line, depending if I need more cash. 

Also, this depends on the points.UW/processing/lender fees are typically around $2k per loan (DSCR), give or take.

Depending on what you are paying vs the condition of the property today, might be better deals out there on East Side in more developed C class areas.

RCV: $244,000AOP Deductible: $4,000Hurricane Deductible: 2%Liability: $500,000If I remember right, steadily quoted me around $4,000 for the same property so you may be able to find something a bit better depending where in Alabama you are. 

The reason I ask is that depending on what financing option you utilize, if that bank requires you to close in an LLC then the 1031 exchange may not work. 

Tell him there is a termination fee, but you'll waive it if he shows a copy of the death certificate.That's what I would normally do, but it depends on how long he's been a tenant, how good he was, and other factors.

I know plenty of my client's are cash flowing here in Phoenix it just depends on your strategy.

@Kurt Traynorit depends on what you're trying to do. 

You have a leg up on most in that you understand regiment, organization, responsibility, and dependability.