Other than closing costs and loan fees, they are free to have. 

Would the closing costs change?

Estimated cost for a 1500 SF house $1,500 or more depending on your details.3.

Well my guy that I helped found it on Facebook marketplace the guy was only asking $9,000 and I basically told him I liked it I wanted it and the seller tried to play the smooth saying I've got a bunch of buyers and the price went up and I basically told him to take it or leave it and I bought it for 10,000 bucksHow did you finance this deal?

So the foreclosure took longer and cost us more, evnetually we foreclosed and took the property back and sold it (at a loss).So damn I lost money on this deal....

It is usually dangerous to assume you can cut costs. 

If you sell the house, your repair and improvement costs will be added to the cost basis, reducing your taxable profit.

@Robin CastilloLLCs are useful for legal protection, but they require separate tax filing, typically cost several hundred dollars to create, and most non-commercial lenders will not lend to LLCs.Commercial lenders will lend to LLCs, but their interest rates are significantly higher and they require collateral that regular lenders don't.I would not create a LLC specifically due to the issues in getting a traditional mortgage it will likely cause.One potential route though, is to get a traditional mortgage in your name and then assume the loan after a 6mo "seasoning" period with your LLC.

This Tranche will get an 8% preferred return and then up to projected 14% total annual return, the 6% above the first 8 will be split 75/25.

Have you attended any local RE meet-ups?