An umbrella has nothing to do with those circumstances.I think some people hear umbrella and assume it's some sort of magical insurance that will protect them if anything goes wrong. 

Hey @Eli Edwards,In my limited experience New Western, and any other larger company who is geared towards wholesaling properties, generally doesn't leave much on the bone for the end buyer. 

Hoping to go down one of two paths:1- Buy a condo or small single family home and build equity and create value with my maintenance/construction background.2- Find a cash provider to do this on a larger scale with a 3-5 unit building. 

While adding compliance costs (filings, payroll), this structure is beneficial, especially for larger portfolios.This post does not create a CPA-Client relationship.

For larger properties, there are no disclosure laws, so purchasers have to be skilled about due diligence. 

LLC's allow unequal distribution of profit and tax benefits.. thats how I did larger deal were my LPS were not required to sign on large loans.

There is a catch - the couple wants to 1031 the funds into their sons next larger project which is TBD.

I'm still looking for my first property and I have a lead, sort of.

I'm guessing they want some sort of updates during the rehab.  

I just feel like you’d be way better off joining one of the larger multifamily networks that has actual resources and successful students.I really truly believe that Ryan and Tyler started off with good intentions, but I feel they saw how much money they can make off of tuition and have made a ton of promises that they haven’t kept.