If you do choose to set up a company depending on the legal structure you choose to use, you may need to register and pay taxes in one or more states, or you may be able to disregard the entity on your taxes and just pay a filing fee.

Best practice is to disregard face values of list prices entirely.

If the refinanced appraisal is not appreciably more than the original loan then the chances of completing a BRRRR (100% Cash out) is slim.The Refinance Lender will give you a loan based on a 70 - 75% LTV (the new appraised value).Let me give you an example without knowing anything about your property:Purchase price (Multi family) at Market Value $100,000Down payment (25%) $25,000Loan $75,000We will disregard Rehab, Closing and Holding costs for the moment.At Refinance a new appraisal will be completed.  

Account Closed  having bought my fair share of preforeclosures.. your first rule of thumb is to basically disregard what the seller tells you because half the time they don't know.your job if you want to buy this is to get them to tell you who their lender is and get written permission to talk to the lender or the trustee handling the sale.. then contact said lender or Trustee and get a payoff quote in writing once you have that then you know if the deal works on the money side.. without it your wasting your time.

For tax purposes, our LLC is disregarded (owned by my husband & I).  

Which is true, though I had no doubt I couldn't sell this property to one of my cash buyers in the time allotted.But disregarding my contract and terms, how have my fellow BP members answered this question?

Do yourself a favor and disregard the Zillow estimate.

A single member LLC is disregarded for taxes, unless you elect special tax treatment, so thats irrelevant to the discussion.

In the end however what is "right" is subjective, disregarding legalities of course.  

I don't need this if its a SMLLC or Disregarded Entity, right?