But without seeing your pro forma assumptions, I can't say what's realistic or not for you.

Two (2) parcels in a manufactured home area, acquired through tax deeds and sold on open market with owner financing.A 2/2 condo acquired from the Forclosure action on the courthouse steps.A senior community 1/1 condo from a wholesaler.A senior community 3/2 SFR also form a wholesaler.All have proven to be profitable.

I got kicked out of college for letting my GPA drop down to 1.5 form a 3.5 (4.0 scale).

I wanted to form a new multi-member LLC Taxed as a Partnership. 

I like the potential return the pro-forma shows, but I've been burned a couple of times already with expensive turnover, tenants leaving a mess and having to pay thousands $ to remove the junk and prep the unit for new tenants.

How do you pull out equity form a rental property?

Things such as; toilet paper, drinking water, pet supplies, linens and hot tub chemicals and cleanings that we didn't initially factor into our Pro Forma's..The costs of these are real, but even realer are the stocking, cleaning and preparing a space for visitors in a few hours between check ins.

However, the future looks bright with a promising pro forma cap rate and the potential for significant equity growth and improved returns down the line.

If you form a partnership LLC and put that in a land trust (and keep ownership interest of the land trust anonymous, together with its trustee), you've gone a long way to protecting the assets in the LLC.

The pro-forma (then) Jax Investments provided was conservative in that the taxes were overestimated and the rents ended up being more than projected.