I agree with @Brian Eastman, IMHO, the stakes are too high to to get this wrong, so I bit the bullet and had a pro set the LLC up for me.

My 5 siblings and I were raised by a single mom also and I saw mine do whatever she had to to keep us fed and clothed with a roof over our heads. 

I know normally you can divide the NOI by the purchase price to to get your Cap Rate and from there you can implement the value increase formula but what if the property is completely vacant?

It's mission is to to buy non-performing notes of homes with families inside them, and attempt to work out the debt.

I have a family member I want to reach out to to get into business with together, as he has expressed an interest in real estate investing as well. 

So for those folks it makes no sense to to buy if you cant have positive cash flow since the cap ex will almost certainly be as much as the meager appreciation over a very long hold time.  

Originally posted by @Alex Craig:Originally posted by @Alex Craig: @Chris Clothier hahahaha, sorry this was just too funny for me to to say anything.

My best advice to to learn as much as possible so you can get rid of the retail RE agents and mortgage brokers. 

@Kevin Romines covered it pretty well.If its on Zillow, its a bank foreclosure or pre-foreclosure and totally legit for you to check out and offer on.Joe Kaiser is a legend  he went toe to toe with the WA AG.. his thing was buying tax overages from those who did not realize they had them.. there is a big company in CA that did that as well.. 

AT this point you'll need to document all the additional work you've done to to push value high enough so that your BRRR wont be a failure and you'll be able to get back most or all of your rehab funds and equity/down payment funds you've contributed as well.One way to address the topic above is to use private financing or notes so that you can include the purchase price, the rehab, and the carry cost all into one note that is recorded on the property up to what you believe will be 75% LTV so that you can do a regular refinance (rate & term refinance) versus a cash out refinance which requires 6 months seasoning on title (rate term has no seasoning period only +1 day after you close, you can R&T refinance again technically).