We are looking to eventually quit our jobs and give back to the community.Our tentative plan once we feel comfortable is to flip a few properties and eventually own rental, multifamily, or single family homes to replace our income to build passive income. 

We are doing very well with TK in Indy...

We purchased the house under a LLC, and we are both members of the LLC. 

I haven’t had an estoppel doc signed yet..we are set to close on 31st am I too late for this?

We are planning to form an LLC for buy/holds regarding multifamily, single family, and row homes.

We are a month shy of our one year anniversary for the REI we host here in Cali :) We hope to make your next REI, fingers crossed it all works out!

Rents should move significantly when we are done.

Historically we are still well below average rates.

But we are catching up.  

His niche is very different from what I am familiar with, so I'm having some trouble running the numbers and I thought I'd turn to you guys.So he(my relative) has been doing this exact strategy for a few years and has done a good number of deals(~40) so I'm confident he knows what he's doing, but his strategy is as follows:Buys a distressed trailer(mobile/manufactured home) repairs it, and then sells it to a tenant that either can't qualify for a normal  loan, or doesn't have the money to purchase a normal home.So for this particular deal, the numbers are as follows.Purchase price of $5750.Rehab of $8000.Rehab should take roughly 3-5 days.Selling we are assuming a month, but he says typically less.Taxes are around 600/yr(which the new owner will pay) but accounting for the month we have it, $50.The lot rent for the trailer is $350.Closing costs would be maybe ~$100.We'd sell it for ~22k, with a down payment of 2k at 14% interest for 75 months.So our purchase and rehab would be ~$13850, plus a month of holding for $14250.We'd get 2k back bringing our investment back down to $12250.We'd bring in 400/mo from the mortgage payment.As far as I can tell, this would be about 35-40% cash on cash return.Please go over these numbers and tell me if I'm missing anything.