An investor willing to pay $100K for a house worth $225K after renos could be low balling or maybe the house needs that much work.

For example, the numbers down in Fairfield County are significantly different than those up near the Massachusetts border, so if you haven't considered other areas of the state I recommend doing so before jumping into out-of-state investing.Being that you're just getting started, surrounding yourself with good people will be a sure-fire way to get the ball rolling.

It actually was a great exercise for me as well 

Won't change anything now since the ball is rolling.

If the bonus depreciation rules are extended then you will have the option to repeat this exercise down the road rather than do a 1031 exchange. 

@David M.The lender can exercise the "due on sale" clause if the name(s) of the buyer are not the same name(s) as the members identified as the owners of the LLC.

Oh if only we had a crystal ball!!

We are relatively but not completely new to real estate investment, we recognize this as an incredible opportunity and do not want to do anything too hastily but also want to jump on this and get the ball rolling.

I have had a couple of wise investors/business owners recommend holding onto the cash I have and observing the market rather than playing in the ball pit with all the other stinky kids.

We are relatively but not completely new to real estate investment, we recognize this as an incredible opportunity and do not want to do anything too hastily but also want to jump on this and get the ball rolling.