I thought by dividing the property and putting ownership in separate LLCs it would limit my exposures and liability.   

How do you feel about a $700k purchase price with a non owner occupied 4plex DSCR loan 3yr prepayment penalty, 10yr interest only 30yr fixed after$560k loan amount (20% down)7.750 par rate with no costs. monthly payment $3,616.66Or pay $22,295 in closing costs and get a 6.375% Monthly payment of $2,975The monthly payment difference between the two is $641.66And when you take $22,295 in closing costs and divide it by $641.66 that will give you 34.5 months (2.89 yrs) to break even if my math is correctHow do you guys feel about taking a lil less than 3 years to break even on $22,295And the seller is giving me $15,500 in seller concessions  thank you everybody for your help!!

Just want to clarify how you got there, to get to $12K you divided 1.2M by 100 lots (of which 60 has homes on them and producing rent, 40 lots are vacant). 

I currently have a HELOC with Wells Fargo for an investment property I own in Brooklyn, NY, which the draw period will be expiring.

If there is no problem then the HELOC will provide more flexibility since the cash out re-fi may yield more proceeds after improvements when applying the 70 or 80% LTV limit whereas you might get improvement proceeds from an investment loan but you won't want to because there will be a lot of red tape, inspections, draws, lien waiver compliance and a lot of other crap they load onto improvement loans on investment property.

Our property manager mentioned that they cannot collect rental income for one property and divide it between multiple SSNs.Here’s their suggestion: "They are operating a business, and the IRS considers it a partnership.

They soon will be putting a rail line to get to Miami way faster for concerts and such which will only draw more coming into town for events plan to fly into Tampa for a more affordable plane ticket and housing. 

It is a process where every month you tweak things here and there to find out what really draws customers to your property and for them to have a great guest experience. 

Good assets draw good tenants.  

Then divide that net cash flow by your total cash invested.