The flipping LLC would elect to be taxed as an S-corp - this is done to reduce the portion of self-employment taxes paid because flipping is not considered a passive activity and you are responsible for paying SE taxes.

Realistically I’d say it doesn’t even have a cap rate of it’s own per se currently.

That's not a bad thing per se; but if you are conservative on every measure, are you still making a competitive offer?  

I think Hartselle will become more of a bedroom community for people who work in SE Huntsville, so there are some good growth opportunities.  

All in SE Michigan.  

Hi,I live in the SE Massachusetts area and I'm looking to buy a small MFH within the next 6 months using an FHA loan where I'll live in one unit and rent out the others. 

I'm not sure how to go about that.I understand this isn't about investment properties per se, and I appreciate the time anyone takes to answer any of these questions.

Just run the numbers ....we didn't use the 70% rule "per se" but the first one we had an idea of the ARV to be around 185k.

SE Michigan.

Here are my recommendations depending on what you're looking for:If you're looking in the <$100k price range I'd recommend looking in the SE areas Anywhere east of 131 to Burton (probably between Division and Eastern), and north of 28th st (probably between Franklin and Burton).If you're looking around the $100k range, I'd recommend Creston or West Side.