Jesse Brown Since you live in the most expensive area in the country, can I presume that you intend to execute this rehab & hold strategy from long-distance?

He is saying this because they won't give the loan you are getting (conventional I presume) to an LLC.

I presume that leaves me only with seller financing or private financing.  

Presumably if a long term refi is taken out, it will impact the cash flow for quite some time.Am I missing something simple?

I presume, as is the usual custom, you wrote up your offer and the listing agent presented your offer to the seller.

If you spend the additional $9k your break-even will presumably be $699k and you seem confident the property will sell for at least that.You don’t say what the alternative is.

Shall we not presume that they're innocent until proven guilty like with everybody else?

I'm sure there are projects to be found, but developing stuff from the ground up is a much better margin model, but it presumably does take more time and experience to execute on.  

Presumably that property has or will have a tenant paying rent.

That's not my experience, but I don't live in paradise (Hawaii) either.Of course, this presumes you learn over time to do a better screening job, AND take steps to ATTRACT the best in your given tenant pool.