To me the parking and the shed are a big deal, I would focus my energy there.

to protect before it makes sense to spend that money - compare that with how much you spend in annual insurance for the same property/equity (on the same FEAR principles, just in case your property might burn down).Again, this is a simplified rule of thumb, as there is a lot more to the LLC question - when to do it, how to do it, current mortgage, proper transfer to preserve title insurance chain, DOS, future financing, management, distribution of properties per entity, insurance, partners, etc. - stuff barely touched in current thread.There is no one-size-fits-all - the risk threshold is a subjective measure particular to each individual.

Keep that up and you will burn out early.

We'll see if anyone can help us there.As for the ARV: This is actually a new construction, energy efficient, high end finishes.

On paper this seems good and a step in the direction I want my life to go but I have this burning fear inside me saying run away and stick to your 9-5.

It sounds to me that they have been burned before because they *thought* they were providing value, and then the investor went with someone else who likely actually provided the value they were looking for.

It is a good place to start.https://www.biggerpockets.com/files/329/downloadWhat are some burning questions you have right now?

I've seen a lot of people get burned by it.

Nothing is impossible without the passion and energy for a goal you are pursuing.

Move too fast and take on too much risk and you can get burned.