I am doing this because this is not the only property I intend to buy so I thought I should start off with an LLC now.

So far i've received referrals for Cresset and Origin Investments but both are longer term developments with minimal cashflow for 4-5 years.

I don't have the remaining 30k to pay off the mortgage. 

If at least one of you can't do that, I wouldn’t do anything more than rethink this as a one-off project.

So, being that a comp sold for $872,500.00, I had to take 20% off of that ($174,500.00) to equal a $698,000.00 estimated ARV.Thus, with a forecasted debacle from loosing around $163k, one should deliberately refrain from doing this deal.

Even if its cutting the warranty off, sticking to manufacture warranties, and saving the cash to pay for expenses when they come up.

Hey @Wade Wright - First off congrats on BUILDING A GROUND UP fourplex that is amazing!

There were a couple times that car problems came up and we skipped payments, so they never really got that far ahead.

Or working with an agent who can help you find off-markets? 

I have little knowledge, but actively am studying and reading each day, but I do love what I have learned thus far.