Hey @Brandon EllisThe entity structure you are referring to is known as the Series LLC.

I was thinking Vinyl plank flooring, and used SS appliances off craigslist or Facebook market place and also the scratch and dent stores.Upgrade bathroom?

We just updated one of our bathrooms and the garage (turned it into a room) and we have the option to remodel the kitchen and the 2nd bathroom. 

Just make sure there is no "structural issue" with the property or some issue that will drain you financially.Don't get analysis paralysis. 

@Jay Helms I stand up during the members part of our monthly in-person REIA meetings, and announce that I'm happy to talk to, or have coffee with, anyone who wants to talk about real estate.And then, because of that and the fact that some folks recognize me from posting on BP, I usually have a ton of people come up to me during the break and after the main meeting.To be honest, it's exhausting, and sometimes I head to the bathroom just to hide for a few minutes before I can deal with The Crowd.

However if you can truly only afford $450 then I don't know how you can structure it so that you can afford it and they can safely expect to get their money in a timely manner.

You'll have to know what's allowed in your zone and what the restrictions are.You may not be able to put a second dwelling on your lot or the lot may not be conducive to a new structure (e.g. need certain setbacks from the property line).Finally, is it worth it?

Its all in how you choose to structure the deal.   

They've been dressed up over the years with new roofs, vinyl sizing, replacement windows, etc. but it doesn't change that they're structurally inferior to conventional stick-built houses of the same age in other areas.

We have met with our CPA and been advised about business entity structure.