Really, notice you sold us crap, then a crap management company, then losses after losses, then, "Yes, we will buy your properties back after all of your losses, at a discount? 

This will allow you to eradicate your rent expense which I'm guessing one of your higher expenses on a monthly basis.

@John S LewisIts 100% crap.

It's just full of crap (somewhat literally if you look at that bathroom picture) and cosmetically outdated.I stopped by the house on the way back from closing and was pleasantly surprised to see that he had actually removed a bunch of crap and that from what I could see, he was honest about the house being in great structural shape.I imagine we'll spend $3-5K on trash out (dumpsters and labor), and then resell it.  

It's a crap shoot.

(which scares the crap out of me) When talking to them about a conventional loan they said this could not be done if I was purchasing the property through an LLC?

As long as you get a great deal with solid numbers - ALWAYS.When markets are great, rents are up.When markets are crap, rents are up even more. 

I've ran numbers before for condo sales and considering PITI, prop mgmt and condo fees it didn't seem reasonable to own a condo to rent out (unless you get it dirt cheap in crap condition).

It turned out the work was total crap and I had to spend about $1500 redoing some of his work.

this  is  a crap!!!