(I made up the statistic, but I know from talking to a lot of investors, they don't have a clue how an LLC is supposed to run because they simply down loaded a form to create the LLC and were off and running.

@Brandon WeddleIts awesome to see young men that are trying to make out on their own, instead of free-loading off parents.

This is because:1) you often move walls around, which changes the load path.

I can give you a few things to check out for free before you give away the farm.We have a free webinar on our website that is loaded with 60 minutes of content, SmartRealEstateCoach.comHope that helps,Chris Pre

Loads to consider and more to research...

You'd be managing and cleaning the unit, washing sheets etc. so not just dead weight in the deal.

BRRR will also kill your cash flow by increasing your debt load.  

As for question 5, that's also a loaded question and easier to discuss live. 

Both families of 4 likely generate double or triple the laundry of what my family of 3 generates and we typically have 4 loads per week (sometimes 5). 

IMO, it seems your "friend" is trying to off-load a dud to you.