First you need to learn to separate the following:Maintenance: usually things related to wear & tear or tenant damage.Repairs: usually broken items like doors & windows, caused by tenant or nature.Capital Improvements: usually expensive things that wear out: hot water tanks, furnaces, roofs, etc.The seller is correct that Repairs & Capital Improvement items should not be a factor for awhile (ALWAYS get your own inspection to confirm).

So then you can add several properties under that same LLC if in the same state correct?    

Agree , those are all incredibly important as is good property management and the ability to price the property correctly based on your competitors rates( dynamic pricing ) . 

Asking in the correct forum will get a better response.Read the RULES!

You are closer to correct if you are looking for large-scale multi, but still sound like someone who asks questions and only wants to hear what he wants to hear.

Everything is looking good, Just wanted to double check the projected was the correct formula.. still learning. 

Also, half of all LLCs get thrown out in court because they aren't managed correctly.

Asking in the correct forum will get a better response.Read the RULES!

There is nothing illegal as long as the property is zoned correctly.

Correct, it’s a long process with no guarantee of success.