Step one is to understand your financial model: essentially the type of property, the neighborhood, the price range, the rent range and your target audience (tenant). 

I do understand now, the tenant is paying it essentially.

It’s essentially a rehab loan.  

Income Source: Have a salaried W2 position as well as side hustle income.Gross monthly income (optional): $9000 (household)Monthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $1400 primary home, $440 property close next week, $250 car paymentFICO: ExcellentCredit issues: N/aAdditional details: Essentially looking or insight on potential ways to make this deal happen or just deals in the future. 

couple of ideas1) ADU law   (every single family zoned area is now zoned duplex essentially)  the entire state is now zoned MF2) desert hot springs is growing (no pun intended) but very little rentals available there... might be worth a drive through to see for yourself3) yucca valley is a great place to invest in multi-family - there is a NEED... but most of the inventory is old.. hasn't been much built for decades.  4) so that leads to building! 

Is it essential to speak to an attorney about forming a Purchase & Sale Agreement or is it entirely possible to form one yourself from online resources.

Is it essential to speak to an attorney about forming a Purchase & Sale Agreement or is it entirely possible to form one yourself from online resources.

I have to find some non essential task to give them and then take the time to explain how I want it done.

The main entity of the Series LLC is essentially like the parent, and for the parent Series LLC you get a single EIN and can open a bank account.

Well to refinance and then to sell would be a little bit redundant and incur many more costs/fees than you want as they essentially cancel each other out.