My personal opinion is to form the LLC especially because you have multiple people involved, so that you can have a crystal clear operating agreement and everyone knows their roles and responsibilities. 

Hello Crystal,It's a shame.

@Dimple Gajra no one has a crystal ball and part of the risk we take as investors is market timing.

My crystal ball says that 40% move to Tahiti, 20% to Bahamas, 20% an upcoming island and 10% to Mars, thanks to SpaceX..

No one has a crystal ball......even companies that have insurance can screw you....the insurance company the use may suck and not pay etc etc....there are no guarantees with any company or person you work with....Old friend used to say....."

If so, then sure, and I would like to use the same crystal ball as you are ... if not, then that is what that "R" is for, to guarantee the forced appreciation that enables the cash out refinance.

These goals are usually directly achievable, and crystal clear, like "Sell X amount in advertising for BiggerPockets" or "Write a blog post" or "Workout 3 times intensely in addition to practice."

Yes Crystal, I am for real.

7 years ago,if you checked the MLS or punched your favorite filters into Zillow,you'd get tons of results for your search.Then you'd spend hours and days analyzing scores of listings to determine which was a good deal.I've been trying that for the past 6 months in my favorite market.Consistently,search results have been 1 or 2 listings...almost always overpriced and never cash flows or approach anything near the returns we look for.As far as MF is concerned,loopnet is now down to a single page if you're looking for an apartment deal in Jacksonville.Everything on that page is rubbish with 4-5% cap rates.Even my favorite wholesale deal sources have all gone silent.Nothing.It is time to go to cash,guys.The handwriting on the fabled wall is crystal clear.

Crystal Smith That's too light for 8-10 projects.