Question is should I pay off the down payment loan (7/1 ARM) early or put that money into savings and just refinance the ARM at end of the term?

I do have an LLC, and have always done my own taxes, but never official book keeping.

You may generate money in real estate investment by educating yourself, starting small, then expanding as you acquire expertise, particularly in low-cost regions.Good luck!

You might add the weighted interest you are currently paying, to see if you actually save money by refinancing your primary.For your 1st investment property, if you want to do a cash out Refinance on a DSCR type loan, you will need to get a minimum loan of $70,000, at 6.6%, you would need to have the property rented for a minimum of $900/mo, assuming taxes are about $2k/year, and Insurance is $750/yr. 

I am looking to connect with somebody who has experience in working with Tax Sale Overages. 

If the LLC you set up was taxed as a sole proprietor then it would not file a tax return. 

I haven't done this as this is going to be my very first property, please feel free to ask any questions:Potential Rental Income: $1000/- month (Right now through housing, but rent is due for increase)Taxes: $2600/-Utilities Water/Sewer: $800/- (Rest of the utilities are paid by tenant)Purchase Price: $124,900/-

In other words, I think a partnership where I bring the remodeling know how and sweat, (I have 26 years of experience and I have already created good relationships with subs I trust) and where the investor brings the money to pay for the property and rehab, could be a great fit for the kind of investor who wants to flip properties, but doesn’t want the hassle and stress of the rehab construction.  

Yes, it can feel like "wasted" money on months where rent is auto-paid and there is no maintenance to be done, but when you get a bad tenant or two or when deferred maintenance finally catches up to you, they certainly earn their keep.At your scale, you might be able to get a bulk discount with a good PM, especially if you can show how well your current systems are working and how they'd be needed less than usual.

I know of several rehabbers in Sacramento who also have their RE license, and if they can't make a deal work with the numbers or the seller won't go low enough on the purchase price, they list the property instead and still make some money from their commission on the sale.