Setting up and maintaining an LLC involves costs, including filing fees and potential legal or accounting expenses.

. $40,000 including closing cost) under my wife and my name since we will be living in 1 unit and rent the other unit out.

Essentially there is a property management company that finds investors to pay for the build of duplexes that are then sold for 30%-40% more than the cost to build.

We appreciate your business, and we hope you continue to be happy in your home.In recent months, property taxes and school taxes have increased, and the costs of labor, materials and insurance premiums have increased significantly.

But when I add in the cost of paying on the HELOC as well, it gets even farther from penciling.

With TV shows like Flip or Flop, Flip This House, and Property Brothers more and more people are convincing themselves that they can rehab a property.

If you are doing delayed financing the loan would be based on LTC (loan to cost) and you would be getting purchase rates.

Although, there are costs associated with forming and maintaining an LLC, such as state filing fees and annual reports that are to be noted. 

We did a full gut rehab, and it appraised for $193k with each unit rented at $1,200/mo.If you want some Detroit specific resources I'm happy to share. 

I am doing a rehab on a house built in 2001.