Meanwhile, each of you has their own LLC for marketing/branding purposes if you should so care. 

@Dadrion Tuircuit,  That simply means that the seller will be performing a 1031 exchange. 

The fact that it was brand new a year ago is even worse.

Hey @Carl Flint that's a good question, you definitely don't want to put a property under contract and not being able to perform, this is why my advice would be to build your cash buyer list before you go on the hunt for deals. 

In many states you can file suit for damages if seller doesn't perform their duties specified in the contract.

I hope they are not as new as you are.It sounds disastrously if there are 6 brand new investors going into their first fix and flip deal.If it is a fix and flip, You should create some sort of entity and request a loan from a private investor or hard money lender.Conventional financing is likely out of the door with the amount of investors and the likely condition of the property.Doesn't hurt to ask a lender if they would do it.Again would be a burden handing over financials/socials/sensitive information for 6 people for a conventional loan.

It'll have virtual assistant performing marketing activities as well as screening bookings, filing and preparing reports to make tax reporting a breeze.It's only for extended stay operators.

I am brand new and I hope I am using this platform properly (first post).

I live in California and purchased my first property on a 4 bedroom house brand new home build, we are the first tenants.

I live in California and purchased my first property on a 4 bedroom house brand new home build, we are the first tenants.