My business partner and I ended up forming another company and bringing in two additional partners that were already doing flips in the area to help increase our capital and our ability to do more deals. 

It seems that a lease purchase with stipulations to make the buyer responsible for repairs would be more advantageous than renting because the property owner wouldn’t be responsible for any repairs, they get a bigger up front payment from the sale of the option (which will help with vacancies) and if the buyer exercises the option at the end that’s a win too.

In addition to that the building next door is rented and when I further expand I can move other employees into that when need be.

If you are putting up the rehab cash, expecting $150k profit, you should get your rehab cash back & 50% of the additional profit. 

I’d like to transfer them to an LLC however from what I understand if a property still carries a loan and title is transferred to an LLC the lender may exercise their right to require the loan be paid in full.

Sounds like that may be even more of a concern when you're working in lower income areas, as they're probably going to have more issues.On top of that, the property is listed as a 4plex, yet the county records show it as a triplex with a garage (so they likely converted garage to an additional unit), and the "land use" is defined as single-family (which is confusing, because the same page says the property is a triplex).Will be talking to the current PM hopefully today to get his opinion on the property and area as well.

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The additional cost above laminate will not likely be captured in your sale price however you need to know your local market as others have suggested..

Marcia, Thank you for the additional information. 

In addition, we are also pursuing Financial Independence through a mix of real estate and investment accounts.