This may be your best bet as it lets you hold off on formation, but its important to make the title company and the lender aware ahead of time so they can update title and prepare the loan docs with the correct entity name.

Thanks for the update and the quick reply!

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So update on this.... 

I'm not sure what you're reading on this, but the FHAs latest update just said that the buyer's commission would not count towards the 6% concession limit.

UPDATE: After running all the numbers and thoroughly analyzing things I showed the seller that what he was offering, $500k, $80k down, 6%, left me appx. -$400 cash flow each month.

The house's electrical system seems to be functioning properly, but given its age, we're wondering whether it would be beneficial to replace it entirely( I.e update the whole electrical system) My question is this: Would installing a new electrical system increase the value of the house and make it more appealing to potential buyers?

That is the only update I can provide today.

This is an update on the eviction process in Clayton County, GA: Evictions in Clayton County, GA remain a nightmare for landlords.

Properteis that have had these systems updated tend to be much more expensive.