You can set up an LLC after you've gotten under contract on a deal!

These repairs are through a contracting company owned and operated by the PM. 

Make sure you are clear of the contract you're in (are there any cancellation fees?) 

We found two contractors and the bid we received to finish the work were higher than the bid we contracted to complete the entire rehab! 

You will have to source these properties from a wholesaler, where you will have to put down hard non refundable assignment money at the assignment of the contract, or source them yourself.The steps to follow for a subject 2 property are as follows:1.

Did they give you an agreement or contract that you signed?

@Melanie P.1) The caseworker is supposed to approve all HAP contract amounts, but otherwise, who is realistically going to take the time to investigate and how are they going to prove it?

It's part of their contract to get paid and not getting paid is a violation of the contract.

With enough knowledge you can make a educated decision on which approach you take.My experience:I personally don't sign up for any program who take you aside during events and try to sell packages that is just blatant sales strategy.Once you sign up there is every attempt to make you sign for their programs for bookkeeping, registered agent, LLC or corp setup fee which have ridiculous even with platinum membership.Basic standard structure they suggest to take advantage of multiple deductions can be easily achieved by proper education or work with a good firm like https://wcginc.com  who is local to you.A umbrella C-crop to manage all other LLC properties and take advantage of many tax deductions that are not available with a llc, its also used to take losses up to 100K as startup expenses and dissolve the entity after few years.Few LLC entities for investing in Real Estate, etc preferably in Wyoming or Nevada ( you can find many companies online who can do this for $150 compared to anderson $1500-$3000) , they will claim they have a secret Operating agreement which is bogus.They certainly try to take advantage of tax loopholes and claim to be smart people, my view they are just taking advantage of numbers as per their own statements.

Partnerships and smart financing made this deal a win!