Hey Account Closed I'm open to using a broker who specializes in working with investors. 

Change orders during construction is very common because in many instances things that were not accounted for in the original scope do pop up and when you start opening walls, demoing, etc many surprises can arise.

Good morning Brad,Before starting to talk to the owner, maybe there are a few other questions to ask  yourself:1. have you accounted for vacancies?

Account Closed the seller just wants to feel comfortable with you and your ability to run the property by "underwriting" you.

Also, always keep in mind your Passive Activity Loss Account, as this can help ease your mind and open up opportunities you may not have considered  

It differs from other retirement accounts in this way, because you can easily borrow from it for real estate.  

We’re getting an LLC and S-Corp set up now so we can hit the ground running when we get there.We’re planning to use the S-Corp for the flips (we don’t plan to make enough money the first year to actually reap the advantages an S-Corp provides, but you never know) and the LLC is for our longer term cash flowing holds.We’re looking for advice on what to look for when establishing LLCs and what to look for when selecting a bank for establishing a business account after receiving our TIN.

Long story short, hold the tenant accountable and let them know what your expectations are.

It depends on the bank @Yash Bajpai , probably a local bank which is all over the state will be better then very small/ family owned bank type. this are much stricter and often just want to work with Local state residents with some track record. you could contact a local mortgage broker that could shop for you.And, if you are planing to buy in this state it is wise to open a checking or saving bank account with one of the local banks.

Given that you'll likely have sub-par tenants, I would budget a higher amount to account for evictions, late payments, tenants just skipping town, etc.What do you anticipate your maintenance/repair expense will be?