I am looking to buy it for 50,000 all in, including repair cost ARV is conservatively 150,000.

While you are analyzing 4-Plexes in the Springs, I would raise your utilities calculation to $300-400 to be conservative.

Either way, you can cool your heels while parties duke this out at 111 N. 

All an LLC does is limit the amount the party the sues you can get to, so you still need umbrella insurance.

Property has been professionally managed by local, 3rd party management firm -- opportunity to increase NOI by 10% + more through self-management.

I can do this deal by myself but was thinking about bringing in another party to share some of the liabilities?

We're planning to offer marketing services from third parties to assist promoter/operators with their capital raise needs. 

The reason for this restriction is most of the secondary market will not purchase loans which are in the name of an LLC, they want to have a responsible party attached to the loan rather than just a company.  

I finally went out of state.Which brings up the second part I learned.

The trick is finding someone who is at your level as far as partying goes.