If you plan to originate and sell, to get yields into fair market territory, you'll be discounting your paper, meaning that your margin on the home will need to be high enough to absorb the discount and still produce a better return than just outsourcing the lending process.

Old houses at super high prices. 

Hi Brian..if the collections are paid off you should be able to get to that high of an LTV, providing you can verify income.

for a 1 story or 2 story building not for a high rise or midrise. you can easily avoid by what floor you buy or build on in miami. suburban deals or on south beach sure but not in a city high rise development you won't be worrying 

So flat or falling rents, rising expenses, and high asset prices make it tough to cash flow and would probably require a higher down payment, especially if using a DSCR loan.However, over the long term, despite the past 2-4 years of very high new supply, new construction starts are way down.

Relisting involves certain risks, such as market conditions changing or not receiving offers as high as $3.15M. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

So it's worth it to get a professional involved.Its highly recommended to consult an attorney on the asset protection side of the LLC and a CPA for the tax implications of the structure.

That is with the $240k ARV (which I think is likely high) and the $30k reno (which may be low), but of course, that is without looking at any of the numbers/comps. 

There are $400/hr consults who can assist with almost every topic on these boards.Also, just for your information, I do plan to ask an attorney to review the final document but was curious at a high level if it's even worth exploring this opportunity.Good luck to you sir.