You just can't use one source of information, have to form a picture based on a lot of different sources.

Id consider an LLC or some corporate form as well. 

It might be wise to form a REIT to pick up some of the class A multifamily space.

There are certainly many people who can put in a $1 million down payment on a $4 million property.An approach for someone who doesn't have the $1 million down payment is to form a syndication.

Purchase Price:$60,000.00Purchase Closing Costs:$6,000.00Estimated Repairs:$15,000.00Total Project Cost:$81,000.00After Repair Value:$75,000.00Down Payment:$60,000.00Loan Amount:$0.00Loan Points:$0.00Loan Fees:$0.00Amortized Over:0 yearsLoan Interest Rate:0.00%Monthly P&I:$0.00Total Cash Needed By Borrower:$81,000.00Monthly Income: $800.00 Monthly Expenses: $415.00 Monthly Cashflow: $385.00 Pro Forma Cap Rate: 5.70% NOI: $4,620.00 Total Cash Needed: $81,000.00 Cash on Cash ROI: 5.70% Purchase Cap Rate: 7.70% We want to buy and hold (possibly using the BRRR method). 

I would agree with what @Troy Sheets stated as it makes sense to keep it relatively formal; however, assuming you are doing a lot of this, you will want to form a true partnership between your LLCs.

I've moved on however, and plan to use my business acumen to analyze deals and form a business, my sales experience to negotiate with sellers, and utilize my desire to keep pushing further.

It's best to separate out property taxes and hazard insurance in your pro forma.

They recommended I form a Wyoming LLC to serve as a parent company to the Florida LLC.

My partner and I are about to close on our first deal but would like to use this opportunity to form a relationship with a Lawyer for future work.