I am looking for some people to connect with in that area that may have more experience as we are out of state investors and have heard that Mississippi has great opportunities for cash flow and for people starting out in this industry. 

Most likely they will charge x amount per sq ft.

Unless you buy this with cash most mortgage companies will not allow a purchase in an LLC.

Purchase price: $605,000 Cash invested: $242,000 Sale price: $1,012,000 We converted the garage into the kitchen and took the roof off the garage and added a master suite.

Year 1 is going to be tough to cash flow, but the population has essentially doubled in Fort Bend County in the last 10-12 years.

With $40,000 in cash reserved for contingencies and closing costs, a 20% down payment would be just out of reach for me.

Good deals will find cash, but good cash will find deals.I think the most valuable skill is networking.

Can some of the members of an LLC do their own exchange or cash out at the time of the sale of the property?

Becoming a Key Principal (KP) in other people’s commercial real estate deals is a great way to shelter your income, participate in several deal at the same time, minimize / spread out risk, capture equity w/ a preferred double-digit return at a discount cash-out-of-pocket investment. 

I then thought of the idea to offer they a fixed rate if they private lended me cash on a short term (5-10 year) period.