As I bought the house at the foreclosure auction, I wasn’t able to see the interior beforehand.  

There are internal heating and cooling systems, electrical components, hot water heater, plumbing fixtures and a myriad of other issues that are hard to assess for the average home buyer.Realize that you are not going to catch every single flaw or defect on your first run through a home, although there are a few key areas that every home buyer should look at before making a decision.

Without reading the comments and from working at a REIT who deals in commercial props I’ll tell you if you want a deal it will be off marketYou will never find margins on the market as those are the properties no one wants when brokers take them to their clients....thus they get listed.Commercial real estate is almost all off market deals...at least the ones even worth analyzing....don’t get me wrong you might can find one but they are few and far in between.I look too and know this from my own searches but mainly from my day job and acquisitions and dispositions I see internally that we do.

Seems clear that I won't need to file a SCH-C at the fed level:When an LLC only has one member, the Internal Revenue Service (IRS) will automatically ignore it regarding federal tax liability.

The fees and knowledge involved with the process don't really justify the effort for newer investors to choose an LLC with a (slightly) stronger internal liability shield.

Any advice or input would be appreciated.Details:Price 336k for 4 units - Two 1 beds/1 bath and Two 2 beds/3 beds -1 bath Outdoor Rehab Fees- 50k Interior Rehab fees - 25k (separate contractor whom we are happy with)Estimated ARV- 550K - very conservative probably closer to 600 but new to this market so underestimating.Outdoor - replace and renovate all siding.

The property is a total interior rebuild, new floor plan, separate HVAC for each unit, 2 baths each unit so a condo high quality like rehab for sure.

I plan on keeping the building long-term and the current owner has done some significant rehab on the interior but like i stated the roof/gutters need to be replaced.

It apparently needs some foundation work (It’s on bricks), it needs central AC, a new roof, and interior updating.

I am going to try really hard to find a place to stay with the company I am interning at this summer and if that pans out then Ivy tech would be the best decision I can think of while still giving me the ability to transfer back down the road.