If it's just the fact that you want it in an LLC, I would strongly suggest just dropping the LLC, getting regular financing and taking out an umbrella insurance policy.

I'm wondering if this property will cash flow strong.

YOu should hear me talking with them telling them NOPE your ordering your abstractor to search title when I open escrow not at the end only to have us all fubared.. they then whine well it cost 200 bucks I tell them fine I will pay for it.ON the west coast and in Florida in my experience  Title companies which are FAR superior than almost any atttonrey type closer.. they have title commitment to you in a few days or so. 

I want to start my mail campaign 1/1/16 and am committing $1,000 per month to mailings and will commit to six months.I should generate some leads...hopefully I can close them.I am soliciting for your feedback, suggestions and/or comments......I hope you can find the time to respond to help me.Thanks in advance,Clary RobertsWish me luck....

Strong bowtie game.....Welcome! 

Most living paycheck by paycheck are doing that because of a mindset- a mindset they'd have if they were committed to a regular corporate job.

Assuming the person doesn't make amends, then I'd strongly consider Charlie F's recommendations.

Then the LTV is so low for their 1st position loan and the guarantor is so strong that they overlook some details.

That is good you have a strong relationship but I also agree with @Corey Melkonian to make sure everything is very documented.  

Many attorneys feel very strongly about UPL.