ZKeep in mind that it's very competitive right now with Hedge Fund money out there.A much simpler way is to buddy up with a friend or a group of friends and form a Joint Venture that buys the building using your own money.

PM charges for turnover are not cheap and pro forma usually underestimate true bills.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

I recommend you review a copy of the pro forma contract for sale and purchase and be sure you understand it's terms and conditions. 

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

I've decided to form a single member LLC (I'm aware of the negatives in doing that).

There are lots of ways you can play this but insist on only paying based on Rent Collected none of this pro forma stuff.

They would each be single-member flow-through LLCs and this would negate us having to form a partnership which would be more paperwork and require an additional tax filing.

My point was better clarified with Karens comment in that to avoid SEC violations and attract true private lenders, u must first form a relationship with them and my opinion is that direct contact is essential.

I'd like to hear from someone who has used him to form a company and learn about their experience.What services have others used and found to be helpful in forming an LLC.