It's a pain in the butt, and while it may be worth it to some folks, I don't see the value in it.Most of the stuff in that $1k-$5k price range has been picked over by local investors like roadkill picked over by vultures.

Looking for something I can plug the info in and provides a nice presentation 

An LLC could mean the difference in cash flowing a small rental propertyor not when getting started but in the long run could save your butt if something goes wrong.

Plugging the numbers in is a good start but as you can see from this example the $300/mo you’ve estimated in cash flow is unlikely to materialize in this case because of the general condition and tenant situation in this property.

I'd like to jump on this, but I don't want it to bite me in the butt for using ththe wrong form or the wrong approach entirely.I'd love some advice.thanks!

I would be at the butt end on the first lien. 

Hi @Arielle Butts,Welcome to BP! 

.), I'd cover the new appraisal fee, since I share responsibility for this due to having been the one to pick the lender.If you're working with a direct lender, then it's more  of a pain in the butt, and you will likely be on the hook for the new appraisal fee.

Kick butt...

Not worth the time trouble and money to kiss their butt .