It's time to hire a lawyer and get some advice specific to your situation.

Purchase a smaller multifamily that you can get into for $1.5-$2.5mm.

If that is the role you are looking to file I'd think you would be paying between 5-10% of project cost.If you are actually looking for this PM to hire subs, write contracts, schedule, order materials...essentially acting as a GC....I would expect you to be paying between 15-25% of the project costs.I can't speak specifically to your market, but those are some ball park percentages based on my experience here in Chicago.

Sometimes the commission checks can be low (i have a client purchasing a 50k property tomorrow at 2%) but helping someone buy their first investment property has been fun.

Thank you, Greg and Chris, for your suggestions.Any idea on which specific type of attorneys to contact and leverage for creating LLC?

My fiance and I intend to purchase at couple more, we love NC!

We avoid escrow holdbacks for distressed properties and instead reduce the purchase price.

. - Purchase Price $38,450-Full Rehab $75k (roof, interior/exterior paint, new kitchen, new bath, new floor, new appliance)- Add full bath $25k (88 sq ft) is the option/decisionAs far as cash flow, here is are the two options....- 3/1 would be...

Starting with a cash purchase, renovate and refinance to potentially recover invested capital (as much as possible).I'm optimistic about this approach and eager to see how it unfolds!"

It was a dream purchase for me and my wife, but after joining Bigger Pockets and all the great folks on here helped my move into the STR game.We ended up with a standard 2nd home mortgage that was almost immediately transferred so we just started listing it on VRBO and AirBNB.