I plan to use an individual 401K to pay for the property. 

If you're local or you would be willing to travel, there are some wonderful meetups organized by some really smart individuals in this area who aren't all on BiggerPockets: W2-RE Investing Austin MeetupReal Estate: Investment-Education-Training-and-NetworkingAustin Private Lender and Borrower NetworkingYou'll be able to get some great information here and meet some people who have 40+ years of experience in the Austin Real Estate market.Let me know if you end up attending - I'd love to meet in person!

Many times I have entered into an agreement like that and because of an inspection told the owner I had two choices, cancel the deal or change the sales price. 

Took me quite a few years as a self employed individual with my short sale company and real estate license to be able to purchase my first few properties. 

You think this is a good point to enter? 

Some are sad at the loss of a loved one and unable to enter the home or even think about it.

@John Morehead  Normally I would say someone shouldn't be entering into a contract to purchase something as large as a hotel unless they have intentions of going through with the purchase of the hotel.I know that whenever I represent the Seller of anything such as a hotel, I put specific language in the contract that would prevent a buyer from then flipping the hotel to another buyer.So essentially, in cases such as my clients, you would NOT be able to wholesale the hotel.I think that if you're dealing with any semi-sophisticated Sellers, you're going to find similar results.

I am a pro member of Bigger Pockets and use the calculator for analysis of sfh individually but have not done it for a package of them.

Hi @Kevin MadarasTo accomplish what you are looking for, you would want to transfer your properties into individual Land Trusts which will then be housed under the LLC.

Coincidentally, I listened to your podcast yesterday, causing me to reevaluate the percentages I have been entering for repairs.