How does that compare to the market?

Comparable homes in the area have sold this year for $600,000 plus ($40,000 appreciation in just 1 year). 

its not legal as most do it in all 50 states just not enforced or prosecuted.. you can close on the home then advertise it for sure.. cant advertise homes you don't own and the equitable interest theory does not stand when you sole business purpose is to emulate real estate broker activities..  

This is truly motivating to me as I'm currently working on my first flip that is minuscule compared to this but wowzers! 

The rates and terms on a portfolio loan were terrible compared to doing 3 separate cashout refinances.   

Of course I have no idea how your home compares to his in terms of location and size, etc. 

Comparable rentals go for between $1200 and $1500 a month.

The purpose of the LLC is for liability in case or lawsuit, with 1-5 property depending the amount of equity you have, I would simply buy an umbrella policy.

Also you should get some quotes to compare, state farm usually have reasonable landlord policy.

The only problem with that last option is that it seems to defeat the purpose of cashflow if I sell one rental and buy another.