Just know that we had to take money back from the contractor as he violated terms of the contract.

It is a 4-unit building and I was planning to live in one of those units (per the mortgage contract, I need to move in within 60 days and live there for 1 year). 

It took us SIX MONTHS to finally lock down our first house, we made at least 10 offers and we were under contract 3 times before we finally closed.

Long story short a "simple and short" contract ended up anything but. 

The rent will top out at $700/moTotal Gross Rent $3,830/moHighlightsEach unit is separately metered for gas and electric (Tenants pay)Over $100,000 worth of work performed by Property Company representing the seller since 2016.

If there are no comps I would predict an appraisal problem which will lilely lead to a forced price reduction when it is under contract.

I should add that I am in California, but if you follow the rules and read the contracts (and have an assist from a legal team), its not that bad.

They were a bit surprised when I told them I would NOT provide payoff and that the contract was invalid.

Or should my tenants make all payments and contract with the LLC A that holds the property and then I subsequently make draws out of there.  2-If i were to raise money under the traditional GP/LP and the GP would be a newly created LLC that I wholly own and I also wanted an equity interest using one of the LPs, should the LP interest be owned by a parent company (Parent Entity LLC) or is it individually myself? 

I am under contract for a bundle of 3 condos.  2 rent for  $750.