You will have to email and do draws which means you've got to pay subs ahead and get it back from the bank This is not something I anticipated when I did my rehab last year.

Not to mention, you are handing over $40k to him, but you have not indicated the money it will cost you to close on th property and get it in your name or how much you anticipate paying to get the house sold again to another.

I haven't been able to get the numbers to cash flow well given current prices off the MLS and anticipated expenses.  

I was 40-60% is what we had anticipated, the problem is I am having a hard time finding a whole building dedicated to airbnb. 

@Jerry Gorley Not yet had some deals that took up more time than anticipated.

We anticipate our properties will all have strong cash flow and we want to reinvest it in acquistion of new properties, so having the LLC pay 15% instead of the partners paying subtantially higher taxes, makes sense in the short run.Obviously when earnings are over $75k per year, filing taxes as a partnership make much more sense to avoid double taxation.Corporations can be subject to accumulated earnings tax.

The best price you will get from the bank is going to be at the end of one of their quarters...especially December.Rental property always has a way of costing more than you anticipate and is simply too much of a headache for me.There are deals all over for 50% -65% of tax accessed value.

Soon I will jump into bandit signs, which is a lot of work in itself, but not many guys do it in my area (weird), so I anticipate a good return on that effort.

We've also increased our budget to 40K, the plumbing was a little more in depth than we originally anticipated.

if you are just looking to do your first one, make sure you have plenty of $$ because it WILL take more than you anticipate.