There is a buyer's premium of 5%, plus I'm on the hook for ALL transfer tax (2% vs1%). that said the numbers still made sense.

I have been involved in purchasing houses at the sheriff sale. I fix and flip all the houses. For the past 3-4 months I am finding that the banks are paying prices that simply don't make sense. I speak to other invest...

I'm going to make this short and not sure if this is right place for this but I have used bigger pockets for other questions and have never got let down and I really need some help here. 

Property in  this area is worth $1700 - $1800 rent.... so long story short, I ran the number and it shows $201.58 monthly cash flow with 5.97%ROI.

If your goal is short term success, give cash bonus(es)If your goal is long term success with a steady staff, give equity/profit sharing incentives. 

Given that LA is an appreciation market, What are your thoughts on going with an IO loan with up to 10 yrs of IO if I plan on selling in 5-8 y years?  Am I missing a huge pitfall here?

The short answer to your question is yes, but it has to be done right.

Parts are correct as far as the "can and can't do's", but where he goes from there as far as how that hurts you is very, very short sighted. 

I am not from Charlotte but will be moving there shortly. 

I realized that life is short and I want to be able to spend as much time as I can outside of a 9-5 and traveling alone 50% of the month.