Chicago is a city of neighborhoods.Especially on the South Side, things can change by just a matter of one block to the next.Out of town investors I find get blinded by high pro forma numbers that in reality never exists in many neighborhoods here.

Most of the time if your LLC is in another state you will need to register it as a foreign entity (or form a new LLC), because you are transacting business in that state. 

Anybody have furnished rentals in the bay area and want to form a referral group of some sorts?

After initial discussions, it sounds like it will be best to form a business and acquire a blanket loan.

I am looking to form a profitable investors team. 

Other items we tend to pro-forma, as we do enough of these properties to know how they should be running (assuming they're being managed correctly).

All of the details, including drawings and pro forma, will be provided following initial qualification.Requirements- Commitment of at least $50,000 in equity upfront- Experience as a GC on multi-family projects (including references)- Strong track record of quality, efficiency and safety- Located in Southern CaliforniaPlease PM me to discuss further.Best,Gene

That's a rounding error in a pro forma.

An exterior appraisal will normally be done on a 2055 form as opposed to a 1004 form for a full blown report with interior inspection.

I'll send you pro forma statements on the vacation homes that fit your situation, and from them you can decide if it's worth the hassle.