Based on your inputs, I think simplifying to a single management company and starting with a single holding company makes sense and then I will add additional holding companies as my portfolio grows.Nathan - on the $1m in equity per LLC portion, would you split properties up into separate holding companies based on type (e.g. residential, commercial office, commercial ag, etc.) or would you keep multiple property types in the same holding company as long as it's under $1m?

@Kyle Rucker- thanks ....you will have a tough time locating a 2nd loan for  180K +  ....Ask the realtor you are working with for options ...Make sure that the lender holding the FHA loan will be able to approve your assumption  request  ( this can be a long drawn out step ) .....if you do find a 2nd mtg - compare the fha loan and 2nd mtg  to a  simple new FHA or conventional loan as there may not be a large difference 

As a lender, I look at rate sheets and loan estimates literally all day long and for the longest time when rates were stable or declining it made little to no sense to pay points. 

Good luck hope it works out for you 

Glad you turned from a long-time member to a first-time poster.

Even with management software, you still have to run a business and be as good as or better than your competitors.

Good topic!

It is a good deal for this property.

You need to know how to run numbers and figure out what makes a property a good flip or solid long-term rental.

And, that's good feedback re: 3/1's being harder, I didn't realize that.