On closing you pay in to escrow the TOTAL cost, which includes the Purchase price and the itemised Rehab cost. 5. on closing the Title company pay the seller his part ie. $55k and keep the the rest for the rehab.6.

Hello, friends.I am looking to hire a new accountant to do my 2017 taxes, which involve pass-through LLC rental income.If anybody knows a solid account who has experience with small rental portfolios and who they'd recommend, I'd be grateful to hear about him or her.

@Dan Heuschele: The Seattle area take around a million to get involved in a multifamily home.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

If your plan involves continuing in real estate investing and you wanted to sell so you could buy a better producing piece of investment real estate then the 1031 would accomplish the same thing. 

Just getting the offer in there can at lease hold the other party off on making a decision until they have all the info they want from everyone.  

They won't take on your case if they aren't 100% certain they will be successful, so there's very little risk involved. 

Pros,  MLS access, networking, save on commissions,Cons  Expensive (around 2.5K for me in Chattanooga), slightly less freedom in deal making because of required disclosures and prohibition on talking to represented parties.  

But I think there's also a related party issue with the family all being involved. 

All that being said, I think it's dangerous to assume nothing will happen - better to get involved in opposing this idea than to be surprised that it passed.