I suppose I could use the boilerplate forms to create the LLC and have the (eventual) attorney create a an operating agreement.  

He got on equipment when he was a toddler, and learned to operate it when he was in grade school.We also used to take him to business meetings.

The majority of SFH investors are smaller mom and pop operations.

Fabien ChanozAs Joe indicated, for a quick analysis, you can anticipate the average operating cost to be 50% of revenue over the long term. 

I worked up an annual operating report based of numbers they provide (off their schedule E is great).

If you have rent roll and operating statement I can definitely take a look and will a idea if its possible or not real quick.

They operate a great team over there.The CPA is a client of mine who specializes in working with local business owners for developing tax strategies and may be a great fit.

Target occupancy was 60%, which was achieved very quickly, as well.We operated using triple net leases with our business tenants and started with 5-year leases for established companies and 3-year for relatively young companies...only one lease was written for one year because it was to a mutual friend.All spaces at that time were leased between $7 & $8 per sq. ft.

I'm also quite certain that a newbie from Lodi could not do the same, and asking a RE agent or turnkey operator to sort the two out for them is like asking a barber if you need a haircut.

It's nice that the seller is willing to participate in the financing but you may want to think carefully about those terms, what the net operating income is, where you are in the cycle, and if you can negotiate for better terms.If they want principal back in 5 years I would drop the amortization and just stick with interest only or more payments.