@Patrick HancockLLC's are not free and there are costs associated with LLC1) Formation costs - potential attorney fees and setup fees with the state2) Registered agent fees if the LLC is not in the state that you operate out of3) Annual fees to keep LLC active4) Bank feesThere are also additional administrative burdens with having so many LLC's.

You report your total revenue from all sources and then deduct your cleaning expenses for income tax reporting.

Feel free to message me and I can point you in the direction of a few other options. 

This is an open-book situation where we really are free to decide where we want to be. 

It’s an alternative, and not necessarily a good one, to capital call or foreclosure.I think that as a community we need to hold all syndicators accountable to outcomes for investors, yes, but also we need to be practical about what the right thing to do is.A few syndications have handed the keys back, for nearly total wipeouts.

They only take 10% and list on all major sites for free.

You know him better, so use your intuition to determine the best way to have this conversation.Silly question, and maybe I am just naive, but don't most contractors bake these admin/reimbursement costs into their total quote?

The goal is to do profitable deals without risking total failure. 

Why are you refinancing only $50k out instead of your total investment of over $68k?

I love the seller financing model because if the property is owned free and clear, there are no banks you need to deal with and for the sellers they will receive more than the negotiated purchase price once factoring in the interest payments and they can defer having to pay the capital gains.