One company owns everything and does nothing (this is your SLLC a/k/a “asset holding company”) and a completely separate company handles all of your operations (this is a traditional LLC a/k/a “operating company”) For the operating company which serves as your face to the world and through which you do all your business, you establish a Traditional LLC to carry out the operations of your investments.

Definitely either make the price or terms more attractive (like seller carry) or add value in some way.

Great input Carrie!

In general, you get to carry this paper "lost" until you sell the property and reconcile all of the income and expenses while you held the property and estimate any tax liability.  

The PM would have to carry a large bill or payments would have to be processed to them for the work upfront.

Ask for an advance from your boss, or borrow from their 401k, house, boat, etc.Talk to your kids teacher about it.Ask a hard money lender.Ask the seller to carry that much (or that much more.)Call Grandma.

Yes, mix it up a bit, get to learn about all the unique and wonderfully educational experiences you will have with your very own tenant to nurture and enjoy. 

There are a variety of unforeseen reasons you could be forced to carry your property and not have tenants and cash flow.

Good and bad - you're entering a property without the bad habits of previous tenants but are now faced with some carrying costs in the first 2-3 months to fill tenants, renovate, and stabilize property. 

If you were there when it happened your witness will carry a lot of weight.