@Terry Hughes...After all the discussions of the downturn in the oil market, and other real estate articles about increased vacancies in the commercial space (multifamily and office) in Houston, are you seeing an uptick in foreclosures in that market in other areas? 

I'd probably freeze-frame the entire transaction, and keep all contingencies in place, until the trouble tenant is physically moved out.

Thank you, for voting for this article.

If you do it yourself make sure that you look up the Nebraska LLC Act in order to make sure that you have everything the articles of organization or certificate of formation require (different states have different names for an LLC filing). 

There are some excellent posts/articles on house hacking and buy and hold strategies. 

After reading a few articles, mostly here on Bigger Pockets, as well as watching the videos it seems like an easy system to use which worries me that I am over looking something.

You'll have to sign up to read these articles but its free signup and a good one if you are interested in commercial REI.http://www.globest.com/sites/lisabrown/2017/03/01/...http://www.globest.com/sites/lisabrown/2017/03/02/...

Based on what I read, half the articles say a flip doesn't qualify for capital gains, while the other half says " well you kind of do".

I have read Bigger Pockets articles and other Real Estate Investing books for years.

Do not cut any corners to make estimates to make them look better on paper but not will physically.