In short, Ill take conservative and realistic (singles and doubles) all the time over the home run pro-forma thats sure to crash and burn (well maybe not quite that bad, but I do like to hear 'good news' and have my team under promise and over deliver rather than make excuses for promising a huge win and delivering sub-par performance).

For example, let's say my pro forma uses the following assumptions, excluding any vacancy:Monthly Rent: $2,000Monthly Expenses, excluding mortgage: (Taxes, Insurance, HOA, CapEx, etc): $1,750NOI: $1,550Mortgage Payment: $1,300Monthly Cash flow: $250Now if we assume a 5% Vacancy Rate = $100 and include it as a negative revenue, NOI Margin (NOI / Income): 76.3%Cashflow Margin (Cashflow / Income): 7.9%Gross Rent Multiplier (Property Value / Annual Rent): 7.242% rule-of-thumb (Income / Purchase Price): 1.15%50% rule-of-thumb (Total Expenses / Income): 23.7%If we instead assume the vacancy rate is an expense: NOI Margin (NOI / Income): 72.5% Cashflow Margin (Cashflow / Income): 7.5%Gross Rent Multiplier (Property Value / Annual Rent): 6.882% rule-of-thumb (Income / Purchase Price): 1.21%50% rule-of-thumb (Total Expenses / Income): 27.5%I realize it may not seem like a material difference in this example, but I imagine in some scenarios it  could lead you to make different decisions just based on how it's classified.

He also sent me a pro forma.

It's all about helping you understand the investing landscape so you can form a winning strategy in any market conditions. 

BusinessRocket is a leading business formation company that handles all business entities such as corporation, LLC’s, DBA’s and many more.

I am not saying that you or your partners are qualified to form a corporation.

It was the same type of call but this time I was armed with motivated liquidity.Ongoing Timeline1/7/2018 - We started reviewing every property as they came in, ran our own pro forma (Google Sheets), neighborhood analysis (Google Maps), and comps (Redfin, Zillow, Trulia).

Should I form a business structure for this for legal or tax purposes, other reasons, etc.?

Ray Hollins don't have to apologize lol, I would try another or would go through a broker Don Konipol gave you a perfect answer when it come about working for different companies best option is to form a Llc.

I have little knowledge about it and wanted to know if anyone had good advice of what to look for when evaluating whether it would be a good financial decision or not.Also, if anyone has recommendations of possibly any excel underwriting or pro forma for it for purchasing notes that would be huge help.Thanks!