@Joel Harrison that is an open ended scenario for sure...There are a lot of variables that can answer that question and they can be vastly different pending location and other dynamics (as indicated above).

In this case  there's this dynamic of a strained family relationship where these individuals don't and will not speak to each other.

.), it is easier for that LLC to purchase property as it would be for an individual.2) If you are purchasing a property cash, you can do it through an LLC because there are no income requirements other than the monies to pay it off.3) If you are starting out for the first time and the LLC is new, you would need to find a lender (I used BB&T for this) who will allow you to purchase the property under your name and do a limited warranty deed to the LLC at closing without triggering the "Due on sale" clause.  

@Torin Foley hi,  the sellers lawyer said they would pay for title insurance and indicated Chicago title would write the policy.  

They mostly represent small individual owners so their services and focus are well tuned to that segment.   

Then they want to see individual performance (each property or whatever you are doing broken down in details). 

if you sold now you would break even at best.. but this is pretty much how rentals go.. your numbers are not out of the ordinary.. unless you take on HIGH risk low income rentals.. were they look great on paper but rarely perform as the paper indicates..

Unfortunately there is no individual or specific governing body in regards to property management in NY State so there are a lot of illegal companies pretending to be property managers and there are serious consequences for operating as a property manager without being properly licensed in NY.

I am still trying to get to know the basics and I would love to learn more about the individual steps of building your RE portfolio from the ground up.

Most HML want to loan to LLC rather than individuals so you would need to set one up.