I personally think a series LLC is excessive but it’s all about how risk tolerant you are.Also having a llc for a property management company might just complicate things unless you have a decent size portfolio and are charging overhead and profit on repairs.As far as taking distributions, whether you take a distribution from one LLC or the other shouldn’t matter, but I’m an accountant so it’s easy for me to track.That said, from my understanding having a series llc like that really puts an emphasis on separate financial statements which it may be easier to structure distributions from one entity if you don’t have an accounting background.Either way, taxes don’t sound fun lol.

He gives the strong impression that he wants to teach someone what he knows, and says he'll see if anything in this deal could work out for me.I'm an engineer, so I'm prone to analysis paralysis.

@April Leclair Minneapolis is a strong rental market with reasonable costs.

Prices are extremely strong and inventory low in the range that makes sense for rentals.

Basically, I hope I'm lucky and the market is strong at that time. 

We plan on implementing professional management, charge market fees, do some aesthetic updates to the property, and do a rebrand/relaunch as a premiere multifamily asset in a true "main on main" location.The underwriting is very strong, even with assuming high vacancy in the first year while we bring down units online and in the event not all 12 owners want to stay on as renters.

We will be making a drastic reduction to selling price soon.I know a hard money lender that takes 3 points and charges anywhere from 10% - 14% interest so I used that for loan numbers/holding costs.Demand is very strong in this area for remodeled, move in ready homes, so I'm confident in the potential sale price.

@Kyle Nelson, Minnesota has a very strong vacation rental market, and if you get into the right properties, they can be profitable year round.

We have built a very strong track record with our bank and we have a great relationship with them so they financed the purchase and the rehab costs as a construction loan.

The weather factor is something that weighed strongly in my list of negatives about the area but it is still a great place to live and the OKC area is growing.It was also difficult for me to understand the concept of the real estate market in the midwest.