I have always been interested in real estate, but was discouraged during the economic downturn and lack of education about real estate investing.I want to begin with earned income methods to pay off some debt, then use the money from earned income methods to fund passive income methods.I look forward to networking and learning from all of you!!

Will you provide insight on how you were able to structure the deals?

The R-1 is not really an issue, a duplex may be in an R-2 designation there but the structure is there, it's grandfathered or an approved dwelling being 1-4 SFD.

Obviously he used lease purchase methods because a regular "sale" with a deed transfer wouldn't have made it past any cursory title search review, as there were still active foreclosure cases on the properties.

If the value comes up low in either of the latter two methods, you can then request and pay for the full interior appraisal in hopes of getting a higher value.

People get frustrated with them because they move slower than other investment methods and a lot of people need ways to get capital so they can buy rentals which forces rentals to come later rather than sooner, but in general, starting with rentals is excellent because they teach you the fundamentals first, then you can use those to be really strong in other areas.

How did you structure the deal and how did you present the offer?

Originally posted by @Chris Casper: from the outside the frame and structure of the house looks in good shape, but once you go in is when you the flooring in the back part of the house all going down to one low spot... if you look at a door way that is by it one side of the door jam is normal other side is 2 inches lower across the top if that helps any.There is most likely structural damage if the house is leaning to one side.I would walk away from this one.Thanks

Structure it as if the LLC is borrowing all the money at the mortgage interest rate, run all income and expenses through the LLC in a separate checking account then do your disbursements from there depending on what you guys agree to pull out and when.I just did a JV and my private lender funded it.

But I'd heed @Thomas Williamson 's advice as a local.To keep your deal, I'd ask for new leases to be signed by the tenants that get your rents to $1000/month through whatever graduated method you'd like.