@Nick Wing  is a BP Member, give him a call they might be able to help.Also, if you need any feasibility analysis or cost estimating for your rehab I can help you out for free.Cheers.

They also helped me with filing a distribution I made last year to offset some losses.

What happens is that an inspector is sent, the inspector always goes out of her way to find problems ( so as to avoid potential litigation from a tenant or loss of job) and always claims them to be escrow worthy for the same reason.

Hey guys, What would your max offer be on the following property:Duplex (950 sq ft each) - 2BR / 1BA units.  30+ yrs old.MONTHLY INCOMERents: $500 x 2 = $1,000/month.MONTHLY EXPENSESVacancy loss (@ 8% or 1 month): $80Property Mgmt (@10% only when occupied): $100Property Taxes: $70 (from PVA)Property Insurance: $75 (estimated)Ongoing Repairs/Maintenance (@10%): $100Cap-Ex/Maintenance Reserves (@10%): $100TOTAL MONTHLY EXPENSES: $525 (which seems in-line with 50% rule)FINANCING20% down, 30 year fixed loan, 4.70% interest rate.Principal & Interest PaymentAt $55,000: $228/month --> Monthly Cashflow (CF): $247At $60,000: $249/month --> CF: $226At $65,000: $270/month --> CF: $205At $70,000: $290/month --> CF: $18Purchase price will likely be between $60,000 - $70,000, but want everyone's opinion.REPAIRS NEEDEDAt first glance, minimal repairs seem to be needed:1.)

I wanted to sell it, and cover the losses myself, but he refused to sign the paperwork to sell the home or have me, as an agent, represent us as the seller.

I've since spent that time selling off (almost) everything and travelling all over the US and basically reinvented myself as a loss expert.

It depends on what perspective you look at it from in CA theres an 800 per year CA franchise tax fee per entity so it would only be feasible if the investment made enough to justify the fee or if the risk was so great that the 800 was justifiable because of the protection needed.Perhaps a better question is what you hope to achieve by creating a LLC?

Purchase Price (ideally): $46,000INCOME: $1,000/mo ($500/unit)EXPENSES Vacancy Loss (@8% or 1mo/yr): $80/moCap-Ex (@10%): $100/moProp Mgmt (@10%): $100/moOngoing Repairs (@10%): $100/moProp Taxes: $60/moInsurance (guesstimate, will get quote soon): $75/moTOTAL EXPENSES: $515FINANCING: 20% down, 30 year fixed, 4.70% interest rate.  

Out of the $60k I made last year they only used $45k after deductions (showed a loss on the rental because of the initial rehab).I am now renting both the units and with my job, my gross income is $85k.But the bank is still looking at the $45k!

Does this sound like a good/feasible strategy?