Probably an excess contribution under 4973, but those are very lightly penalized compared to PT's.

First, you need to build up a solid relationship with a hard money lender ahead of time so you can hit the ground running. 

@Jada Bailey it sounds like you are starting at basically ground zero. 

Comparing 5 Series to 1 regular LLC strikes me as a loaded comparison. 

need help to make sure i have the right steps ( basic format) -find cash buyers & their criteria -drive for dollars , organize info into my laptop-find comparable prices to what its ARV could be - call the owners & pray that they are motivated & find out if they owe anything - find a contractor to help me estimate the rehab costs -offer -pray that they sign -go to title company ( & say what?

I think when once you know what you really want go from there.What are the surrounding properties comparable to your's going to rent for?

Systems in place and hope for the best, but its a grind to get off the ground.

For our area, market rent prices are comparatively low and don't even come close to the 1% rule  (the rent to value ratio here is often more like  .5%, causing it to negative cash flow).

Comparatively I think the market rate would of been $3800 normal rental so assuming 5% vacancy $3610 then 5% management = $3429.50.

Hey BP,I'm hoping to get some advice from investors who have successfully done a long distance BRRRR.I'm hunting for my first investment property and my goal is to do an out-of-state BRRRR for a single-family home.I read @David Greene's fantastic book, and have been following his methodology step-by-step.I'm currently in the team-building phase to have my boots on the ground.