I have a 85k budget that I can use to dip my feet into real state. 

Any criteria or specifics you are looking for? 

It is the most common contract I have seen, or speak with an attorney and have them draw one up specifically for your needs that may be a little shorter if you are speaking with sellers directly. 

@Stefan Hein, can you be a little bit more specific on the type of deals and strategy you're looking to take? 

It's tough to call out scam artists or anyone without committing libel or slander.Maybe have a sticky that warns in general of this, and encourage people to post their concerns and specifically ask advice from the more veteran members on here.

The sky is not falling, but I agree if your carrying costs are high and owners did not budget earnings from last year to cover costs of the first slower months (Jan-May) then they are hurting. 

We have a lot of knowledge specifically in the Bryan and College Station market to help local investors purchase their investments.

And you had mentioned $120 to $170 a square foot which is more in our budget.

Lenders may have specific requirements or restrictions for loans to LLCs, so it's essential to consider how this might affect your future financing options.Before forming an LLC, it's crucial to consult with a qualified attorney and tax advisor who can provide personalized guidance based on your specific circumstances and goals.

Build Rehab Budget into Loan. rather than fund from outside.