-Assess risk tolerance  -Assess level of involvement, time, and cost requirement to rehab2.

Investment Accounts: This decision largely depends on your financial goals and risk tolerance.

That being said, your "risk tolerance" will weigh heavily in this decision making process.

Closing in an LLC will add another layer of protection for you and your asset, so the answer to the overall "better" strategy is up to you and your risk tolerance.

I don't know your risk tolerance or financial situation but yes, 150k is definitely enough but you have to consider your trade offs.

I think most importantly is to determine your investment philosophy in terms of your risk tolerance, illiquid nature of real estate investments, and understanding how active (control) or passive (no control) you would like to be as an investor. 

But ultimately reserves depend on your risk tolerance and predictability of income outside of real estate. 

Luxury construction (especially modern homes) requires much tighter tolerances for materials, so the structures are usually build more like commercial construction with a lot of steel, which requires much more precision than wood framed structures. 

Scott Trench's book 'Set for Life' gave us the motivation to make sacrifices, assess our risk tolerance, and be more open minded about house hacking. 

Clinton Your process is going to depend on your goals, risk tolerance and where you want to invest, that said it’s great you have realistic expectations because tbh with rates likely into 8’s for investment properties, frankly it’s an extremely tough time to invest and you could make many arguments for other investment vehicles depending on your goals, feel free to reach out with any questions!