When I went to the civic center and asked about a unit lot subdivision I got a bunch of blank stares and nobody had ever heard of it before, even upon further explanation of what it meant.

The GC was not very organized which meant a lot of redo's on poor workmanship which easily delayed me a week.

Hi Christopher,The reference to the BK13 vs BK7 wasn't meant to be in any great details.

That way you live for free (or cheap), while gaining land lord experience.In the meant time, I highly recommend you start reading, listening to the BP Podcast, and interacting on the forums.

@Artem Kovalevskiy I think you meant to mention @Bill Pohl even though I would have said the same thing.

This meant that the highest amount that we could purchase a property for would be $194,000.I kept my eye on a few properties that I thought would be a good option for him.

I assume you meant their operating account has 15k.

His reputation on Biggerpockets is stellar and this is not meant to take anything away from him in the least, however, I could name several lenders on here that are very knowledgeable with equally stellar reputations and that could also steer you in the right direction.  

I meant to say that your "operating" LLC may want to take the "Subchapter-S" election to be taxed as an S-Corp, not a holding LLC. 

If you meant the tax bill is too much for -your- pockets, do you have a funding source to cover all the expenses?