Even with experienced investors who do this over and over they have a strong contingency fund built into the pro-forma to model out worse case scenario.It's been vacant for the last 8 years and hasn't been stripped of electrical or the A/C's??

My pro forma works out to 55% expense ratio.

Start building your process for managing leads and systematizing your daily leadgen activities (door-knocking, calling your sphere, writing letters, setting up new online leadgen campaigns, etc).Go out and form a relationship with a title rep, two mortgage brokers, two developers, two architects, two handymen, two interior designers, a divorce attorney, a probate attorney, two escrow companies, and a transaction coordinator.

Would love to hear from clients for references.Finally, would anyone have a pro-forma template for a financing scenario to acquire multiple single family rentals and/or flips that would factor in all qualification criteria, i.e., DTI, reserves, DSCR, NOI, etc.?  

You can form corps or LLCs to your hearts content, but they won't be able to get loans without your backing.If you form a company, and it does have cash, then, yes, it would be in a position to originate loans.

Specifically, when you form a corporation, you subject yourself to double taxation and excessive paperwork.

I would like to buy some basic 3/2 houses and rent them out and eventually form a LLC and sell these to the LLC.

Anyone have a recommondation for a good place to form a LLC online?

@Jay Hinrichs has owned some MHP's in Oregon and can probably speak to this more...When you run more detailed numbers on this you need to put your pro forma together how you will operate the place - do you want to run a Trailer Park or Mobile Home Court?

I'm finalizing the pro forma now and walking the property again tomorrow.