You don't want to inherit any issues from the township. 2) Get a copy of 2-3 months of utility bills for the building.3) Shop insurance quotes now.

Go to the CSLB website and much is outlined there.1 Lots of businesses including construction companies shoot for 20-25%, the higher the margin with increased volume=$.2 Most B1's that I know started as framers, some in concrete, some from underground construction.

Also very interested in this topic, currently using about a million spreadsheets to track renovations and it's all starting to blur together.

I have a duplex in Ohio where the tenants pay $1500/mo; I pay mortgage & utilities, about $800/mo.

Once he has some experience, your friend could start a fund and take on investors.

Comes with two trailers (a 1977 3b2b and a 1984 2b1b) already on it with utilities set up.

I feel I need to protect myself and get the property to be owned by an LLC...But I need STEP BY STEP instructions including how to start the LLC. 

I have multi-family (600+ units) experience with start up for submetering water/sewage/trash via Conservice, electricity was always required to be in tenants name (with revert to owner and bill back in the event of a default in payment). 

But that could take decades and not really what it sounds like you’re interested in.Foley is starting to grow quickly right now.

Thanks, Gary Neely  Whenever I do a seller financed deal, I utilize my normal brokerage contract and write the general financing terms on the contract.