The $10-15,000 in equity is attractive, it has a renter, and I know it will be turn key.

And you can check their references by going to their profile pages.Another alternative would be to talk to a local title company. 

The 'new' debt service coverage ratio (DSCR) driven products are more attractive, though, IMHO. 30-yr fixed rate, 30-yr term, rates in the 4s (right there / better than banks) and no debt to income ratio BS.

Good luck whichever way you go.As an alternative, you could check to see if either of the tenants have the skills and talent to fix up the units and you could then set the rents to market, but give them a credit for the increase to fix up the properties over some period of time.

Although, I don't really like the terms that the owner is looking for so I would consider alternative financing methods.An example of a park we're in the process of buying right now we were able to find a local lender that is aggressive with financing.  

@Bob Lett lake/water front ideally and close to some sort of attractions. 3br 2ba or something with value add play.I started researching municipalities but that task got a bit daunting.

Not the other way around as the 'corporate veil of protection' is still valid while incorporating a business entity mind you.I think you're asking if alternatively an LLC would suffice as a way to organize, but this can easily be determined with an SEC lawyer (even an initial consultation).Your question indicated about ten people involved in this particular business plan and could be covered under the LLC as well in the ability of 'unlimited owners' (people involved)- but again that's where a consult with an SEC legal professional comes into play.There may be things that even your LLC would be involved with that (if you started there) would pop up on the SEC radar- and it seems better to know how to most legally organize from the start.There are various podcasts and books on this topic for folks in your exact situation, but I would consider maybe just skipping those and going for a meeting with an SEC lawyer from the gate- better safe than sorry, and you may be advised an LLC would work just fine for you.

Replacing the front door may only bring a 53% return, but it can increase the curb appeal and attract more buyers, increasing the chances of selling.

because of new hosts managing from abroad not doing proper guest screening and having incredibly low prices that attract all sorts of people to their place.

students deserve nice places to live. we aren't trying to be slumlords but i do realize that students probably have slightly lower expectations than other types of tenants, so i feel we wont need to break the bank in the level of finishing details like we did on our own home but we will provide housing that is clean and safe and attractive. also thinking we can use some creative materials and methods to make the units party-proof. maybe we get lucky and find some long term professors or grad students and don't have to do annual turnover on every unit. even so, i budgeted 8% for property management after watching david greene's webinar yesterday.the heloc would allow for an easy down payment and a nice buffer for rehab, and i have 750+ credit score and good wage earning history, so i think a conventional loan should not be a problem to obtain. a cash out refi might be an option on the horizon if we decide to really crank a proper rehab but the units (from the pictures i saw) are livable as-is.should i be more specific here on the address/market to get better help?