Usually LLC's are if you buy outright or have a well established LLC that has proof of earnings. 

What I am thinking is that once I have 3 homes I would be able to refinance using one of the to buy another home and add some extra cash flow. 

This deal is actually costing me a little extra money. 

Any entity operating and/or owning property in Ohio, must be registered in Ohio.Rental Income earned in Ohio, must be reported to Ohio.Based on the rest of your questions, it sounds like you were "sold" a series LLC by a "guru".

So for the extra month I had to stay, I renewed my lease for a year then gave them a copy of my orders telling them I was going to break it in a month. 

But at 75/25, it changes to 65/35, accounting for my extra money, but also his bonus percentage.

There is a lot of money out there earning squat in a bank. 

But then if the end buyer pays off the seller's mortgage at closing, then why does it seem that you would need to be extra explicit that the end buyer is assuming the terms of the seller's mortgage if they are only paying off what's left right then and there?

It's all about how much return you are earning per dollar invested.

Haha.I planned on remodeling all of the units anyways and replacing the roof and a few other things when the weather is better in a couple weeks, so it works out good for me if he actually does move out because I can easily rent the place out for an extra $100 a month with a tenant that actually passes a credit and background check.