Unless you have a clause in the purchase of the entity that clearly makes you responsible for the entity from the day that you buy it(Indemnification) I wouldn't bother with the LLC.Good luck man. all the best!

I have been looking at properties and it seemed like the seller s  based their price on zero percent cash flow for the buyer.

Hey Guys, I've been in the Birmingham Market my whole life!

Ask away. you have found a treasure site and if you follow much of the information here eventually, you will be prosperous. 

This puts the home underwater.I've calculated the following two options: To sell the house, it would cost me about $60,000out of pocket.

DISCLOSURETHE FOLLOWING IS FOR INFORMATION ONLY, AS I AM NOT AN ATTORNEY, YOU SHOULD SEEK PROFESSIONAL LEGAL ADVICE.So what must you do?  

I mainly want to ask if these assumptions are reasonable and if there's anything I haven't considered:(1) multifamily units in NJ close to New York City, ~$1,000,000, 20% down payment, (2) Using the following assumptions: 4% appreciation rate, 6.5% interest rate and 5.0% refinance after 5 years, $10,000 yearly maintenance fee(3) ~$6,000 monthly rental and assume 3% increase yearly with 5% vacancy rate(4) Based on the above, the calculated IRR if selling at the 10th year is ~19% (considering tax benefits) and ~17% (without tax benefits).

(Respectfully- Please don't tell me to save up and quit my job it's just not realistic for me and won't be anytime soon)If you read the threads on BP concerning wholesaling, you should be able to draw a few conclusions1. 99% of people trying wholesaling fail2.

Just show the arcades, and you can show pics of the rest of the room in later photos.Your first pic is important, and also the first 5 pics, because that is what shows on your landing page. 

One just need some interior paint and refinish the hardwood floors and it was ready to rent.