They don't include all sorts of miscellaneous costs that will cut into that perceived 6 figure profit: i.e. acquisition costs (~5% of purchase price), holding costs (~5% of ARV), selling costs (~10% of ARV).

I would go with the most organized party, all other things being equal, because of the perceived confidence that even if they are not experienced at least they are organized.

@Chris Martin I like your psychology of interaction when they answer the door, I agree  that your initial interaction must be perceived well for the deal to proceed.Thank you for sharing.

How does one avoid being perceived as an unlicensed agent/broker?

Your friend may not want to hear anything which he perceives to be negative.  

Therefore any perceived protection from the LLC is gone. 2.

Someone can perceive a higher cap rate as better for a purchase but you can actually have LESS return if location is not optimal and tenants are not quality.

Real estate investing is often perceived by outsiders as a way to get a quick buck (flippers) or that everyone is a slum lord (buy and hold)....there are bad apples in every crowd, but thank goodness for such a great group of people here on BP! 

You will not find a lender who will lend on "Value" even if you perceive it to be higher than what you are paying.

It's the perceived job security over something uncertain.