LOLYou can write whatever you want but you'd better have it scrubbed by counsel prior to posting it.

Hi everyone I am trying to formulate my plan and was curious if anyone had advice on what insurance you should carry? 

You usually pay an interest only not payment monthly which is 10% of the loan amount, you are also responsible for the typical carrying costs, insurance and all utilities.

One that they're willing to carry 10%, you put down the $30k and then get the bank to cover 70%. 

Swimming any unknown waters carries uncertainties, and doing so with no experience makes the trek even more hazardous.

In fact REO's are carried on the bank's books as a liability, not an asset.

You fund your LLC with a capital contribution, then the LLC carries an "Investment in XYZ Syndicate LLC" when you form your syndicate with the other partners and buy building XYZ.That should give you pretty solid protection and tax advantages.  

Have the seller "carry" any portion of the down payment you cannot come up with.3.

This seller carry back loan would give me the down payment and then some for the down payment on the second 4 unit building.

If it is against the rental it increases the loss that I carry forward so has no real impact to me at tax time.