Property with structures typically have a wider spread.

Higher end rent would require some repairs and rehab.Capex $285Maintenance $285Vacancy $190Insurance $110Water & Sewer $85Taxes $1042 ($12,500 per year).Structure of the property is in decent condition, no current leaks or issues found.Two leases are month to month as of this month, the one bedroom has a lease until august.Gas, heat, and electricity are all paid by the tenants individually.

I recently served one of the tenants with a 30 Notice to Terminate Tenancy (tenancy less than one year) though the nail and mail method.

I am interested in your thoughts on what is the best business structure (LLC, Corp, etc) for REI? 

So don't overlook the old school methods either.

Ok i get it if your expliantion is accurate then they are not really loaning per se they are doing equity JV deals and no doubt in the operating agreement if you fail at all they simply take over and finish the deal with out having to deal with you anymore.. and again I can't blame them for that method I would do the same if it was 100% my money.  

However, I'm a bit unsure as to how to structure the agreement in regards to who should fund the renovations.

We were interested in living in this property and using an FHA loan, but we were also interested in how we could approach the owner about owner financing and how to structure those types of deals. 

How to structure a deal adding equity partners into a single member entity 

Minutes from bus routes that connects to the train which connects to major parts of the city.Ideal Location - located in a mature neighborhood surrounded by several desirable schools.Near local amenities such as a shopping malls and leisure centers.Home setup is desirable - top level and potential legal basement for dual incomeHome is in rough shape and can add value to it (BRRRR method) which is what I want.Alley and Garage parking.Cons - Located on two main roadsThere is street parking in front of the home (2 lanes of traffic both ways).