I have been contemplating creating an LLC then refinancing my home we both own into the LLC.  

Now this is not realistic If I was running a large company but for a private investor looking to invest in TD's this can be a good way to create long term relationships that are mutually beneficialCheck with the state of WA many of the loans your contemplating do not need a broker or NMLS licensure@Aaron Norris   Just fyi I have recommended your company to many LA investors as an alternative to going half way around the country and trying to buy a cash flow rental.

If I were contemplating a move such as yours, I would ask myself this: what is is that I know that the overwhelming majority of business people far more successful than myself do not know that has me convinced this is a proper course of action?

I am contemplating an investment with a local developer.

Black appliances, small fenced yard, small screened in porch.Im living here until I can rent.Let's talk numbersmortgage - 653/mo = 7836/yrHOA  - 347/mo  = 4164/yrExpenses so far 1000/mo = 12,000/yrIncome - 1500/month = 18,000/yrVacancy = 1 month  (-1500) = 16,500/yrIncome = 16500 - 12000 = 4500/yr = 375/month I don't know what the normal estimation is for repairs, however I wouldn't mind putting all of my 375 into a fund just for repairs (at least for a year or two).The nice thing is that I am going to have a roomate for 3 months who will pay me 500/month.After that I may have a second roomate for almost 700/month :-OComps-2/2 across the street, similar style buildings - 1490/month (on the phone) 1530 on apartments.com2/2 townhouse style apt - down the street - 1475-1500/mo2/2 up street - 1325/mo2/2 modern duplex - 1900/mo Rentometer puts the median price at 1700, and the average over 1800, which I think is falsely highI have contemplated renting this unit furnished however I am not sure if I would be able to increase the rent enough to justify the expenses (But I really don't want to move my furniture hehehehe).I am fairly sure I could rent this unit for 1500/month, possibly even 1600 (1700 with furniture?!?

However, it dawned on me recently that a $1600/month rent is nowhere near achieving the 1% rule on a $260,000 property and so I've been contemplating selling it, and 1031ing it into two new properties that add up to $260,000.

Would love to connect and chat about the area; I have been contemplating purchasing a property there.

We could easily afford one of those homes and actually were contemplating it not to long ago...

I sat my behind on the chair and contemplated what I did wrong in the last walk through.

If you're contemplating hiring a PM solely to have someone do the dirty work, that's totally fine, just understand you're paying a 10-12% premium (and likely a placement fee of of 1/2 to 1 full month's rent every time the PM places a new tenant) and you need to adjust your financials accordingly.Sorry for the strong medicine, but hopefully it'll save you some money and headache down the road.