@William S. my clients in WI who have been developing apartment complexes are stating the current aquisition cost of land plus construction cost does not make anymore.  

Please make sure it was done legitimately where the town or city recognize the property as an actual 2 unit.

Goals for March:- Acquire clients for data service business. - Today, we bid on 6 NPNs (1st liens), waiting on copies of collateral to perform due diligence. - Consistently go see 2 off market properties/wk for acquisition. - Consistently set 2 renovation jobs/wk for the GC. - Revamp my 2 web sites.     

@David Minaya a word of caution: I have some clients who formed a partnership (multi-member LLC) and are now second guessing the wisdom of that move.

We also like it -- as do several of our clients -- because you can run an Airbnb/short-term rental down there full-time, which is not something you can do in Denver.Good luck!

If it were my client these are the considerations I'd be walking the borrower through:- calculate the new higher HELOC payment after you used those funds for your new VA purchase (to bring in the portion required by the VA to purchase or pay down as you call it).

A realtor focused on investment clients won't recommend a bad property management company or contractor because they will want to keep you happy. 

They want to work with people who have the funds and not potential flakes who are trying some way off the wall transaction and structure that has an extremely tiny chance of every happening.If a broker/agent runs an efficient business model of transaction after transaction then that type of buyer working on a long shot is not their ideal client.

The network and broker you are with can certainly help boost your success, but in my opinion nothing replaces putting in the time and being creative with how you operate your business to show how you, as an agent, are unique to your clients (Investors, people planning to buy for their primary residence, etc.)I also have an REI mentor who has helped with my process a lot if you would like a recommendation.

Gain is recognized by Corp and passed to you and you can never recognize a loss  ( unless liquidating distribution) Also, you do not need to transfer the asset to yourself for BRRRR.