The property sold (to me) at the upset sale for $17,000 The Taxes and costs due to the county were about $5,000 leaving funds to payoff the $7,000 lein on the prior owner. 

Your personal tax situation, as well as your personal asset situation will weigh into this decision of how to set up the LLC And what to include in the operating agreement.

First time poster with a 100% LTV deal below a lender's cost of funds for a Fannie/Freddie deal.

I was able to enter the address and some info on their website and get a nearly instant report emailed to me but they followed up and I sent them pics and the scope of work and gave me a more personalized quote. 

We can do up to 80% cash out plus our rates just dropped for long term DSCR's.

I've heard of instances where I've seen the investor do well long-term and some where the investor has been able to build and sell or just hold and eventually sell if new developments are coming up in the surrounding area. 

Whatever reasons you come up with could apply to properties that cashflow. 

Hey my names Nick, I just signed up today been following and listening to bigger pockets for a while now and always interested in real estate investing.

Then blot it, don't rub it to pick up the oil. 

Will the 100's of thousands to input into the project provide a viable return or a cash out/equity push up refi for it to make sense?