@Poem TurnerThe class of tenant you will be dealing with with those rents will surely bring unforeseen headaches.

Relationship... consider it depending on circumstances and experience in peripheral areas surrounding investing.  

You could come in with that during the refi, if you wished, and keep that $125k liquid in case some estimate is off or some unforeseen expense comes up during the renovation.

Who knows they may have lowered the price by the entire quote amount of the unforeseen items just to keep the deal alive, or maybe just split the cost...  

In various circumstances, this might mean that they are late on their mortgages, or are otherwise distressed and in need of a quick sale.  

All things change with time and circumstance!

There may be other circumstances, but the point is I want it for only a short period of time

Any price I put out the door, would strictly state "for budgetary purpose only" as pricing would change dramatically in some circumstances.

I will search the forum for other similar questions and see which answers best fit our circumstances.  

An LLC buys you nothing from a tax standpoint - it's all about legal protection at that point.Holding rental properties in an S or C Corp is also generally not a great idea unless you meet a very specific set of circumstances.