Now, that said, the only way that would be the case is if:1) the seller didn't know how to determine the value of his property, and was ripping himself off;2) you had the ability to reduce expenses to a point where very few owners can; or3) the seller is extremely motivated for some reason and is willing to practically give away his property.I'm guessing it's none of these, and that you are actually being too conservative in your pro-forma estimates.

You have to be careful with these brokers pro forma numbers or in other words a "pack of lies".

I was wondering if you live in one state would you be able to form a LLC in another state.

Of course it would be cheaper to form one but I am in the beginning stages of each but I like to form a firm foundation and make sure I am ready for each before I dive right in.

thank you very much for the suggestion, i am actually getting ready to form a group with my friends, they are all motivated in investing in RE.

Form a single asset LLC (only one property in the LLC) and place the property into the LLC, then sell the LLC.2.

I am also trying to form a local one.

As for my LLC, I can either change it to include more functions (presently it is organized as a marketing company), or form a new company to fit this particular purpose.

Some have advised to form a LLC.

Might want to form a U.S. corporation - not that difficult for someone overseas to do.