You can spend as little as $100 to form an LLC, or you could use an attorney and spend $1,000 or more.

@Derek Morrison each state and locality can have different crazy requirements; we’ve had rentals in several states and I just spend time researching required disclosures, inspections, landlord tenant laws for each.

There's < 2 months of seasoning for the purchase, cash into the deal is ~$975k w/o rehab (minimal planned so far - turnkey), purchased the property for 35-40% below assessed value, 825+ FICO, and would optimally like to pull out $975K-$1.15M of equity.Main scenarios we've thought of to accomplish this are: 1) structure sale of property from SMLLC to self and secure 30-year new purchase financing on deal (unsure if legal and tax implications if above initial cost basis)2) delayed financing (LTV restrictions a concern)3) cash out refi (seasoning concerns)4) DSCR (seasoning and rate competitiveness concerns)5) one of the above plus a HELOC, personal loan, etc.?

I would plan to sell this property when the tenant is no longer ready to renew.

Spend $50,000 at a seminar well at the end you have an education about seminars and maybe learn something about real estate along the way.   

I'd also like to learn more about how to effectively use the BRRRR strategy.Outside of real estate, I enjoy spending time with my family, playing golf, and going to the lake. 

I recently purchased my first property that I plan to BRRRR, and had used a homestyle renovation loan which allowed me to use a bank for the mortgage and rehab.

thank you spending almost 200k a year in insurance and then not getting covered is frustrating me

If you have the time, probably also worthwhile to go spend a 1/2 day in eviction court. 

We spend a lot of time out in Canton where we have some family.