Most of the money saved up from equity from a sale of my previous house and the rest I obtained from a family private loan to bridge the remaining $13,000 gap.

I've just created my LLC and have about 90% of the team I need to obtain my first flip.

We tried to obtain an equity loan on one of the SFR though 5th 3rd Bank after closing last year but the loan app was rejected due to the single member's DTI.

@Ben TheriaultOne thing to consider from your risk management/insurance side is it is more difficult to obtain insurance. 

You can start by obtaining their last three years signed business tax returns and have a Certified Accountant review the information to see how health they are.

I think I can purchase the property for substantially less with a cash offer vs obtaining financing and prolonging a closing date.

I understand that it is possible to purchase properties with an out-of-state LLC, but it is best to focus in a specific state and obtain legal/tax advice locally since there could be implications that vary from state to state.Bruno

If you want a thoroughly investigated take on Kyosaki, try googling "John T.

Might as well have them review the new lease so you are fully protected when sh*t hits the fan.I am not a lawyer.Hope that helps :)

Hi @Chris T.!