There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

And we were operating at scale, so we had the luxury of riding a float for such.

What if I'm the operator of the Fund?

Lenders see all, including how little margin some flippers are operating on.  

If anything this is more of a fly-by night operators vs seasoned operators argument.

Turn-key operators, etc. 

Even if city looses, they'll probably make things difficult on operators with all kinds of rules and regs like many other cities. 

Tip #1 - no such thing as one perfect market There is lots of data on Bigger Pockets and MTR experts that have released rankings of top cities for next year, but remember it's not just about the purchase-- it's also about the operation.

If a warranty deed has been filed or even a memorandum of sale or a lis pendens, it makes getting clear title virtually impossible without the co-operation of the one who filed or having assistance from an attorney and maybe a long, costly, lawsuit. 

Missy is one of the top 10 turnkey operators in the US..