Creating an LLC to form a magical bubble around this "ASSET" that you intend to milk dry is not an LLC.  

Hi @Jacob Carlson and congrats on taking steps toward that magic Deal #1!

His monthly $1,100  social security check is not going to enable him to quit working.The Grand Plan.Sell the home that was great for raising kids and close to work, nows it's just a financial burden.Use the 200k equity from the sale as a down payment on a 400k 4-plex in a trendy in-town neighborhood.The magic for the HECM for purchase is that he never has to make a mortgage payment.Let's do the mathHe no longer has his original mortgage payment of 1,200Lives in one unit rent's the other 3 for 900 each that's 2,700 minus lets say 900 for taxes and insurance.OK, now he has a rental income of 1,800 + 1,200 social security and NO housing expense.$36,000 a year forever = retirement NOW for my friend Gordon.

Specifically the treasure valley and magic valley.

However, Wells Fargo and a few other lenders have a loan similar to the 203k for the investor, but they might want a higher credit score - 720 is usually the magic number.My contractor who has renovated several homes for me and who is now rehabbing for himself is actually speaking in May at MAREI  . . .

So it is a trap.Those that will wait for an opportunity, those that wait till the planets will magically align simply will NEVER be successful!

We own a business in another industry that's also PACKED with gurus and magic bullet offers that don't really work. 

Unfortunately, there is no "magic bullet" for the perfect yellow letter; you need to test and track different letters for their success rates.

Maybe 10k is not your magic number, maybe you want enough in the account in case you loose a tenant and have to pay the bills, maybe it's 15k or more, you need to figure out what works for you. save that money first and don't spend it, this will help you be successful.

The magic of Direct Mail comes handy over long term.