Interest rates are one variable of many that make up good investments and investors that understand that and work alongside it will be able to continue to create palpable returns. 

I excluded the address on NDA until proof of funds is provided and currently stuck in a stand-still as tenant does not want to provide anything until he's given some more details.

Now a days you don't even need an attorney to create an LLC, as there are services like Zen Business and Legal Zoom.

Does creating an LLC for managing the first investment property will be favorable for me as far as getting approved by a lender for a comercial loan investment 5+ units?

I have created a budget myself and a schedule for all the work. 

*This post does not create a CPA-client relationship.

That's when my bright thought hit me: why not educate and collaborate with these aspiring investors to create a win-win situation?

Learned some hard lessons about mortgage details, contractors, importance of moving with speed, and dealing with property management companies.

Thanks in advance Florida is a super lien state, so depending on when the condo was created the entire lien amount could be owed by the buyer or a portion (I believe lower of 1% of the purchase price the person being foreclosed upon paid or 12 months HOA fees, whichever is lower).Definitely will want to look into that.

You can either put it in a LLC with both of us as owners or you could create a LLC which is owned by each of your individual LLC’sIn the latter instance it would be easier for one of you to sell your interest