They initially offered me a 25 year loan and then at the closing the docs were for a 15 year loan.

I'd love feedback on my initial course of action/plan and connecting with others in my area willing to work with newbies that can add value to their operations.

and when I came across your website and what I consider to be egregious misrepresentations I reached out thru LinkedIn initially to question what was on there.  

Jasmine C.If you are looking for higher cash flow with a low initial cost to purchase the property, I would recommend some of the states we are in which are Alabama and Missouri.

There are too many issues with the older MHs from the siding, the roof,  leaks that are hard to find or even see on initial inspection.  

Even though this is the case I know that the first year of owning a property includes most of the initial expenses that can be used to claim a loss in order to offset revenue taxes.

Should we have an LLC in order to facilitate the initial transaction of getting the property under contract?

Because of the initial wholesale price discount and the additional equity from rehab I then refinance with a traditional bank with a loan around 60% ltv so that I can then start paying down the principal.

Starting out for buy and hold , you may want to look at spending more on the initial purchase , and less on rehabbing .  

Any feedback is welcome and apologies for such a long initial post!