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.

Also if you are an investor looking in Vegas-be very cautious-plenty are selling as “functional STR”- leading ppl to believe that the license can be transferred-IT CANNOT.

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.

They might suggest transferring the title to an LLC after you complete the purchase.

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

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.

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.

I know you said why but I mean, what does actually transferring the units accomplish? 

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.

They will have requirements on how you can document the transfer of funds.