@Chukwudi MotanyaGetting Things Done by David Allen is the most important book in my arsenal.The E-Myth Revisited is great, a lot of good wisdom about building systems.If you're leading and managing people, then I am a big fan of EntreLeadership by Dave Ramsey.

Sure enough, there was a blanket LOC this house was collateralizing, discovered only after ordering an in-depth title search (L&E report) for $80 from my title co.    

My name is Yanique Berry and I'm an R/E Agent residing in Bed Stuy, here to network and form relationships.

Investors here do not buy for the current cap rate like the same reason you don't buy a stock with a high P/E for the current earnings.

If you want to send me an e-mail offline I'd be happy to help you evaluate the deal and connect you with a couple HML's.

We built covered parking (B/E in 18mos estimate) but the value add is significant

Sincerely,E.

We also have a member e-mail group that is regularly used for the CREIA members to share contacts and ask questions.   

If you treat your LLC as a "disregarded entity" and file on schedule E you could possibly set up a separate Llc property management company and pay it a property management fee to get your "earned income" and file the property management company on a schedule C, but you would owe self employment taxes on your earned income, your state taxes and possibly other state  requirements such as workers comp, and unemployment tax depending on your state.  

Since the loan you are getting isn't technically a mortgage on the property, then the interest you pay on it isn't technically deductible mortgage interest expense on the Schedule E (which is where you report the rental income and expenses).