If you compare the sales pitch between Next Level Equity and Goodin Development  you'll hear a familiar tune with the names changed to protect the guilty.

A local agent recently got sued for calling an old client who was on the Do Not Call list. It seems ridiculous, but that's the world we live in now. With the increasing number of lawsuits and penalties for TCPA violat...

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.The downside of using FHA or a FHA 203k is you will need to live there, for a minimum of one year (to satisfy FHA Requirements); AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC.

If there is a due on sale clause in the loan doc then it doesn’t matter what the loan officer told you verbally.I’m not an attorney, but from my understanding of the loan is still in your name personally a good litigator can pierce the veil and your LLC protection wouldn’t amount to much.

Renter's Insurance is a cheap date for the tenant; it protects their security deposit and assets. 

This allowed us to maximize revenue and occupancy more effectively.Safely Insurance: We also decided to use Safely Insurance, which provides comprehensive coverage for guest damages, liability, and protection beyond what Airbnb or Vrbo offer.

As for the legalities of setting up an LLC to protect you and your partners, I would consult with an attorney for best judgement. 

Hey Steven - An LLC is a solid choice for structuring your partnership since it offers liability protection and keeps things clean when splitting ownership and profits.

Include a buyout clause allowing you to transition to sole ownership after two years, based on a pre-determined valuation formula or market value.Use an LLC to hold the property for liability protection and pass-through taxation, ensuring both partners benefit from depreciation to offset rental income.

I hope you are working with an excellent agent or broker, they can create leverage and opportunity for you while protecting your interest.