Do we need to form a LLC to buy Commerical Property Mortgage?

@Michael Hutchinson , rent roll, and actual cost numbers will help -- not pro forma.  

RE Agents quickly quote pro-forma but these aren't worth the ink to download and print. 

You and your private money partner form a partnership, pool you money and then the partnership (typically an LLC) gets the loan on the property.  

ok i guess i meant vacancy rate not rent roll.or maybe i mean pro -forma, not sure.anyway sounds like this info is unreliable anyway.all i really want to know- is this house easy to rent out or not, depending on past history. there's got to be a way to find thta out. my offer will depend on that as the biggest factor, right?

I'm not really looking to form a "parnership" or a new company together with the 'lender'.

Do you mean form a company or become a real estate agent?

My goal is long term buy and hold.Purchase Price = 355,00035% down (lack of comps) = 124,250Closing Costs = $4000Rent = 4400/month (26,400/yr)Expenses (assuming 50% rule) = 2200/monthNet Income = 2200/monthP&I (5% 30 years) = 673/monthCash Flow = 1527/month (18,324/yr)Cap Rate (26,400/355,000) = 7.4%Cash on Cash Return (18,234/128,250) = 14%The seller's internal pro forma numbers have it at $1797/month cash flow (4% vacancy, 4% maintenance, 8% mngt) for a 10% cap rate and 16.82% COCR but to conservatively I am using the 50% rule.I am quite busy with my own business so don't really have the time to do renovations and manage myself which is why I am doing a turnkey.

If I can more leads then I can handle I rather form a team to handle that then work for someone else. 

Ned Gorges Your best bet is to stress test your pro-forma.