Ken,As you can see on my postings, I have been a member for a very long time.

For corpoartions many will show the address of LLC Members or shareholder directors.

8) No tenant can be an elected official or member of a professional sports team ( a contigency to my insurance- seems strange to me!)

"Disclosed Operating expenses:"RUN your own numbers.400 rent X 4 = 1,600 monthly X 12 = 19,20019,200 gross income divided by half.10% vacancy30% operating and expense10% managementYou have then 9,600 a year.At a 10 CAP you have 96,000 purchase price.1 beds have a lot more turnover than 2 beds do.The people get a boyfriend or girlfriend,get pregnant,family member or mom moves in and they now need a 2 bed.Pay attention to if 400 is at market or below market rent.If it's below market you can keep tenants staying for a long time.If it's high for the area or at market people will move as soon as their income starts falling to a cheaper alternative which creates more turnover.For each turnover you will have lost rent and re-condition costs.The 96,000 purchase price does not include immediate fixes.Example the roof needs redone,mechanicals only have 1 or 2 years left before having to replace etc.

I have a family member who is willing to help with shorter term financing.

It is possible that your cousin just wants to do something nice for a family member.

You'll also need unrealted (family) members that serve on the board of directors or I assume in a N/P LLC.

Specifically stating the business purpose will help protect you in dealing in those activities, such as financing sales...say such does not mean you will or must do something.You might also incorporate limited partners as limited members so that you could take on future partners in a deal without giving up voting rights or positions in management.There's two tips, I'm sure others will follow......Good luck.

The standard fund structure is 2.0% Management Fee and 20.0% of the Net Profit goes to the General Partner/Managing Member.

Since the person is local, it likely is more accurate to your state laws, etc.While you're likely in competition with REIA members, they could also be your end buyers.