Should I form a corporation?

I would also quiz them about collection loss for the area...especially if the seller has poor records or is just dumping a broker pro forma on you.

Barring some unusual local laws prohibiting it, the three elements required to form a contract would all be there - offer, acceptance and consideration.Still, I think his best option is to get a strong agent and list it.  

But I am not good at making decisions.Also, do I need to form a LLC?  

If you form a C corp and it makes money the C corp will pay its own taxes on it's profits, you will not make any of the income, but when you finally decide to start taking money, you will be taxed on all dividends as well as the C corp. 

We have to come up with the pro forma numbers for financial statements of a start-up company and we chose Property Management Company.

I see too many pro forma's with numbers like 6% or 8% vacancy.

You and that person could form a partnership, (speak to a RE Attorney to structure this properly please) add you to the title and take out a small loan in both of your names through the partnership, in 2nd position behind the 1st, using a private lender/hard money lender  in your area. 

I have seen the pro-forma and it appears that there is no cash down required, but a completed set of construction docs and some fees totalling about $500K.

I was wondering to start off do I need to form a LLC or not i'm confused on that.