Does anybody have any insight into this?

Good insight there and still learning the LLC pros and cons.  

Not to mention it seems like a great way to raise capital and do more deals more quickly and therefore gain experience faster. 

I am asking this because a Bank I contacted told me that they won't typically work with someone who does not have any prior experience building  multifamily and suggested that I consider purchasing an existing property instead.How else would you gain experience?

However, even it the market stays flat you have the equity gained from the principle pay down (generally ~$125/month at start of loan per $100K borrowed (using 4.75%): $400K loan produces ~$500 principle pay down on the first loan payment (so ~$6K for the year)). 

Does anyone have any insight as to this property?

Well, it looks like Florida won't get off that easy as we reach the last few months of hurricane season.

With that being said, I'm wondering if anyone has had any experience closing deals (either selling or buying) d...

Any thoughts or insights are appreciated. 

@Justin Pokrywka You should search the forums for some additional insight on $40K properties, low(er) rent neighborhoods, what goes into managing a property in a dicey area, etc.  

Fantastic insight as always @Sean Davidson I need join in on these market reviews.One of the key things I want to point out about the above post is the price constraint.