And this might indeed require some time to pass before doing that.You could still create a single member LLC with either you or your wife as member. 

What are your requirements?

Purchase price: $74,000 Cash invested: $25,000 Sale price: $145,000 I acquired a property from a couple needing to relocate, with significant repairs required.

even if its interest only, id want to pay down principal here and there. seems like sellers would offer this interest only route so they have 0 capital gains tax, but id rather pay down a bit of principal in 7yrs. i see its not required but it should allow for principal paydown in promissary note3) any general advice to look out for on seller financing?

Given interest rate changes, property values, and lender requirements, I’m curious about:How were your acquisition and rehab costs compared to your ARV?

I was told the reserves are a requirement of the REIT loan that we have.

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

Or does your financing terms require you to do something else (which is why we need to ask question #2).Maybe the original poster will respond as well but those are the 4 items I would tell you to uncover.  

Duplexes are a little easier than 3-4 units with FHA since they don't have to meet self-sufficiency requirements.

Highest number of units without getting into commercial buidling codes at 4 units you have additional engineering requirements.