I know the way to figuring that out is being able to read the numbers and factor the correct range of the estimated repair cost.

Vacation rentals are fun and can be very lucrative if you mostly self-manage and you price correctly.

So on a 500k purchase, if structured correctly, its possible for a qualified borrower to only come out of pocket at closing with $25k and No PMI, No Escrows and no mortgage payment for over 50 days after closing is Very strong!

Furthermore, unless you set up the property insurance correctly, you could end up without coverage in the event of a claim if the property is deeded in the LLC and insured personally.Happy InvestingDerek Dombeck

If done correctly, it should cost you no more than $500 out of pocket each month or less.  

I called the office and was able to come back in to have the items corrected. 

Foreclosures are going to owner occupants before it's open to investors, or they get bid up.No matter what route you go, you've got to creative, and the tried and true old school methods still work.

Is this correct?

This LLC will give/loan(not sure what the correct word is) money to my cousin's Company, and there will be an agreement to get a percentage of equity in the construction project(i.e each of the 6 investors may get an apartment after the construction project completes).

Then there’s all the transactional stuff...inspections, appraisal, working with the lender, coordinating with the title company, making sure the contract is executed correctly.. the list of ways a realtor provides value is long.