The flip option pays off your HELOC, with the rest being straight cash in your, and the BRRRR method will allow you to pay off nearly 98k of the HELOC (using 75% LTV for the refinance).

The property was in such bad shape that it would not qualify for conventional financing and as an assortment of cabins it was not a typical straight forward multi-family deal.

Hi,I've been looking into a new multifamily construction deal for 3 separate properties that is offering no preferred returns, just a straight 75/25 split.

It will be difficult for someone to give you a straight answer without really understanding your own personal financial situation and what you are looking for in retirement. 

Some counties in Southern Illinois opted out of state control and went straight to the Treasury Department for funding.

It might be hard to find a property that cashflows straight from the mls listing (or however you look up properties for sale) so you'll have to use your graphic design creative mind to see how you can add value to a property to bring up the rental price.  

They could seller finance it to you and they would save a ton on capital gains for a while, but with family you really shouldn't be buying a property straight out.

@Jane NgLLC are flow through entities meaning any profit/loss goes straight to the owner(s) via K-1 and they will need to pay the taxes accordingly on their personal returns.

It was a straight forward "classic" buy & hold deal.

When I have approached investors for BRRRR opportunities, I give them 2 choices:1) I'll treat them straight as private money at a fixed rate for a fixed period of time (2 years), at which point I would have completed the BRRRR.