So there is not a ton of benefit to be gained by an LLC and that is before factoring everything that is required to have a properly maintained LLC that can have a chance at protecting you and not getting pierced and thus worthless anyway.Don't get me wrong.  

And he may be sued for the deficiency if the deal is not properly done.

In sitting back and thinking on this I believe I have figured out a way to approach the situation in a moral and proper manner. 

I have many threads on how to properly estimate repairs as do a few other members here.

Find out the best indicators and, with patience, you'll locate a properly cash flowing deal that will make sense.

Somebody didn't screen properly . . .I can't imagine trusting your kids to someone you know nothing about.

We all realize that investing in real estate is the path to wealth when done properly!

I am aware these numbers are ProForma and I will be doing my due diligence to get proper records but I believe the numbers show promise and deserve to be looked into at the very least.

Done properly, a husband and wife team can shelter over $100k in income using an SD401k.

I don't know if he took the proper precautions and tested the pressure on the water pipes before he purchased nor do we know if he just let this bill just pile up after watching a significant jump.