Quote from @Ian Krysztofiak: Quote from @Henry T.: It's a fair proposal, but I would have headed that off quickly and said no in the first place.

Cash for keys is common, and frequently the part that keeps tenants from moving forward is not having an affordable place to go to.

Tulsa offers a fantastic combination of affordable housing, a growing job market, and a strong sense of community.

Why not implement your plan in a market without crisis shelters and with affordable housing?

That way you are an alternative rental option for those that cannot afford a single family home.

@Julie J.My recommendation would be to wait until you can afford a home with traditional financing.

As home prices or interest rates increase, fewer people can afford to purchase homes, forcing them to rent.

And unless you have very deep pockets, you can't afford to be that much off....So as has been said....hire a very experienced General Contractor and have them give you a budget number based on your SOW, (plus they will find other things that need to be done that you will not have seen).On your succeeding projects, you do a budget yourseld first, then hire the GC and compare numbers.Then, eventually you will be comfortable going all solo...but it takes time.

Quote from @Alvin Sylvain: I don't know of any special protection afforded you by placing the property in an LLC.

This ultimately why the $100k midwest single family homes are frequently discussed in these forums.....its what many are able to afford to buy.