I want to send a "package" to the loss mit rep which includes everything they're requesting and a few other items I add to it (facts to support DOM, economy, crime, drawbacks and generally anything negative to support my 50% of ARV offer.I'm just not familiar with filling out (or how-to) a Net Sheet, or HUD-1, which the bank wants me to include.

I am also not sure what the drawbacks or roadblocks would be since it is now in foreclosure process.  

What are some of the drawbacks from creating an LLC or is it a good idea.

Some of the drawbacks are that most teams do have a non-compete clause in their contract with them.

Rents in my neighborhood seem to go anywhere from $2600-2900 (this is a 3 bed/2bath condo).The big drawbacks I can think of are interior maintenance issues, especially with plumbing, which are generally homeowner responsibility.

I haven't dealt with either of these options before and I'm trying to decide which may be more beneficial, or draw backs to either one?

@Deren Huang Yeah thats what I was thinking, granted the few drawbacks, I really like the flexibility and the way commercial works.

Drawback is that the interest rate is not fixed and can go upCash Out Refi - This refinances the current loan and gives you cash out.

But also as drawback, I am told that being a part time agent is a bad idea as I would not build much social capital with the guys who are in it full time but also be at a disadvantage competing against agents who can be available 24/7 to their clients.

Michael Willis I️ would sell the condo and 3 fam (depending on which neighborhood it is)And 1031 into a 12 unit in the upcoming neighborhoods of Jersey City, but one drawback might be that those kind a assets trade at 5-6% cap rates