I live in GA and the property is in GA.Thanks in advance Hey Jef,As mentioned above - the LLC wont change much in term of taxes, though some wizards can find ways to save money.

Unless the house is totally destroyed, I don't think it would be worth it.And even IF the house is totally destroyed, I don't see why I should be paying insurance for a $140k rebuild when I can buy the same for $40k down the street.

Nothing is easy and simply asking how can I be rich wont get you much on here.

Give him a call in a panic stricken voice  "  Hey XXXXX  I am sooooooo sorry but you wont believe what happened , we were robbed , somebody broke in over the weekend and stole ALL your stuff .  

@Evan GriffinBanks loans for BRRRR are doable if you find a deal that the bank will lend on.If they wont do the deal then the next step is a bridge loan or hard money loan or cash.The refinance is the key to the BRRR method.You need to work with a lender that does not have seasoning requirements.Banks are out of the question for this because they require you to own the property for at least 12 months before giving you cashout based on the appraised value after rehab.An alternative lender does not have seasoning can get you 75-80% of the LTV after rehab.

I know they have a rule if the owner is performing majority of the work for a trade sometimes they wont require you to pull a permit.

Every window was broken, ever door was destroyed, holes in every wall, sinks ripped from the wall.  

The tenants are ok but everything is destroyed.

Deals wont come to you

This way you wont have to pay for another company to manage it.