Hence the lot on which the house resided was taxed at a 45% discount based on actual value, while the tennis lot was taxed at about 4 times what it should have been by value. 

Quote from @Guillermo Perez: Can someone please let me know if this is ok for my first BRRRR.I got a $200k HELOC on my primary residence to help fund my first BRRRR.

If it’s a good idea make it permanent?

Investment Info:Single-family residence other investment.

@Edreco AmosHello,I reside in Miami and I do agree with everyone else.

Investment Info:Single-family residence buy & hold investment in Okemos.

Typical cost for the setup would be in the $15,000 range which would include production of the Private Placement Memorandum, Subscription Agreement, and Operating Agreement, Investor Qualification Forms, as well as filing Form D with the SEC, and state “Blue Sky” filings in those states where your investors reside. 

Do you have other collateral, such as another income property or your personal residence (last resort) your seller could record their lien against? 

Investment Info:Single-family residence fix & flip investment.

I currently am a resident here (so distance is non-factor) and I possess some handy skills that could save renovation costs (besides HVAC, structural issues, plumbing, electrical work).