I found this deal on Craigslist and negotiated via phone and email.

Texts are informal but all maintenance, rent increases, late fees etc are done via emails.

We've been bogged down with many inquires via Zillow rental manager, and about 85% of the inquirers are underqualified.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊Please send us any feedback via email, as we do not use the DM feature here.

If purchasing an asset via step-down LLC methodology what happens with cost basis on the other side?

I would buy a 4-unit VIA a FHA-loan. 

Purchase the property in your own name, then the day after closing transfer the property out of your personal name into your LLC via a land trust.

I used FHA to buy a duplex, sold it a yr later to make an extra 40k, bought a SFR and owner financed next (10% down cash flowing 400 a month via subject-to), and got to 100k fairly quickly. 1-2 yrs.

I used equity in my house via a refinance and a HELOC to help jump start my investing. 

Learning from BP as much as I can in the beginning via YouTube, BP Forums, and REI Mentors.