This is an internal document that can be modified at any time.Appraisers will look at sales comps but they will also look at the cap rates. 

She's newer to real estate and is documenting her journey as she amasses her rental portfolio and gains experience.

Well this is all news to me. thank you everybody for sharing.

@James FraundorfI think it is best to have a chat with an attorney and that person to set the proper expectations into the deal.You want to make clear whether that person is a lender or a LLC member.The document that is signed will indicate what that person is.Is he signing the LLC agreement or a loan agreement?

Document your tips as well. 

@D MackHi Mack, you will need to send copies of all your lease and option documents to the title company in addition to a Purchase and Sale Agreement which will capture the final sale price agreed by the parties and a closing date. 

Basically, they're just waiting on the appraisal price to be within a certain amount and they can move to get the closing documents.  

Without these supporting documents you will be very disappointed when it comes to using the LLC for your desired benefit.

Well, I just got a bit of news all of us just love - the HVAC needs to be replaced!  

Review loan documents as well to see any default provisions.