This will usually lead you directly to low barrier stagnant markets where the cash flow represented in your spreadsheet does not transfer to reality and the most of the equity is "paper equity" because you will never see it materialize yet many look at completing the BRRRR as the ultimate success.I recognize I am using some assumptions but let's assume you have $100k to invest and purchase and renovate a home in MARKET A for $400K but once renovated the home is worth $500K.

@Isadore NelsonAre you responsible for any transfer taxes upon sale?

But, i do have a couple of LLC's, mainly for transferring property to children or spouse when I drop dead. 

They may get paid on the 3rd and need to not initiate a payment until their paycheck hits their account to avoid being overdrawn.I personally have a 5 day grace period and rent is considered paid when the transfer is initiated.

It just means as a Banker I see the banks money as the way to get rich and save your hard earned money for retirement.If you use your money and fail you are broke, if you use the banks money and fail you sell or find a way to transfer the debt.

If your income is transferable, you could get back on your feet much more quickly by moving to cheaper, less competitive market out of state.

Therefore expect a 15 page home inspection report   filled with corrective measures you must satisfy otherwise the buyer walks.All in between turning over the home, ordinary transactional costs ( broker fees, transfer tax, loan payoff fees etc.) seller assist, repair addendum repairs its very possible for your exit fees to approach 13-15% of the properties sale price. 

This would require tenancy in common which lenders typically won’t allowTransferring ownership from personal names to LLC is straight forward with a deed transfer and re-assigning the tenant leases.

Usually an appraisal can be transferred to a new lender, so as long as it wasn't completed 90+ days ago, it should still be valid.

Transferring a 1031 exchange property into an LLC shortly after purchase typically won’t trigger immediate tax consequences for your wife if the LLC is a disregarded entity, as you file jointly.This post does not create a CPA-Client relationship.