Purchase price: $145,000 Cash invested: $34,000 Snapshot Metrics:Purchase Price: 145kARV: 186kRenovation Expenses: 34kRent: $14951% Rule = 1.03%This was our best BRRRR to date - though we gave ourselves a "C-" on execution.

From what I’ve read online, it seems like he needs to open an LLC and then needs an executed purchase contract to open a US bank account.

Both a title company and an attorney will need an executed contract before they can start the closing process. 

@Matt HurleyYour first 2 steps are executing a sales contract and then finding a title company.

@David F.You can only execute that plan if you can meet the following1. 

We have a clients doing room-by-room rentals ($6k a month in rents), we have others doing executive rentals (not just furnished, cups, plates, maid services, all utilities etc.) all to make cash flow.

@Arthur Neves rule of thumb I've gotten from a revenue management executive is to set occupancy at 50% for the first year.

Really believe if you continue to repeat the same actions, you become more knowledgeable, resourceful, and can execute with great confidence.Thanks for you input! 

You path can only be selected by you and your situation and your passion4) you educate yourself further on the "Method" and how to mix and match methods you're passionate about/ start networking at live events with people who do similarly5) you begin market research/ establish a budget/ ideal property type6) You go see these properties and use them as learning experiences7) you execute the planThere's a lot more, this is a 50,000 foot view that I'm sure subsequent respondents will add to.I've shared a link below to my post, its lengthy, but for a reason.

I just think it's worth considering, especially if you intend to be an agent for a while and especially if you intend to be a "regular" buyer/seller agent besides acting as an investor for your own account.I would say, if you are going to do it, to use the RIAR offer form and not full P&S - though you should read the RIAR offer form carefully as I believe it also says buyer and seller will execute a full P&S.