Don't forget, you’re going to be out 10%+ in closing costs so you’ll walk with zero cash and pin your hopes on them paying you 20-30 years from now if that’s all they put down. 

That can be a tough part, but isn't close to half of the process.

Finally on 5/14/2021 (day 348) the refi was closed and funded. 

And, since we don't require reserves for this program, once we add in the 10% down payment, only $13,500 would be needed to close.

I would get a bridge loan to acquire the property if it needs to be rehabbed and/or closed quickly.

Therefore, bringing as little to the table as possible at closing in both the downpayment + closing costs should hopefully still make your numbers work.

Interest rate is 6.3 and cash to close was $23,500.00 due to higher closing costs with DSCR loans.

There's no current loan on it right now.Given that the investor is a family member (that's how I'm reading it), buying the LLC will "save" you money from buying the land yourself as there won't be any closing/transaction costs.

For details: One example property is a SFH, south west of Little Rock (close to 430 and 30 intersection), price is 230.

In other words, two financing agreements "wrapped" together.But the goal here would be for the 2nd buyer to close all-cash (to skip the financing process), would that still work?