And, in fact, most fixed price agreements have some cost plus aspects (like for unforeseen aspects), and (my favorite) I like to put a not to exceed (or what you may hear called a cap or upset price) on any cost plus agreement (just can't write a blank check unless you have some major trust, ling term working relationship or other leverage in my opinion)..

Thanks in advance, we appreciate the constructive criticism. 

I wouldn't know so I'm asking to learn not to criticize.

I will say that I would not worry about the construction aspect of the homes as they are generally put together fairly well.  

So I am here to learn about all aspects of real estate investing, but first and foremost I am interested in buy-and-hold rentals.

I've increased the value by 6% (the limit it can increase) to be safe and since most properties I'm looking at haven't been assessed in some time.Does this math check out or am I overlooking some critical points?

The only negative aspect of the entire building is with these sagging lintels on a load bearing wall at the rear of the building.  

If the LLC is a single member LLC I am not sure how the tax or cash flow aspects would be changed.

There's a science to every aspect of it. 

@Heather FullertonAs Account Closed said, we're missing some critical pieces of information, including:are you planning to use the condo as your own residence from now on?