We also found another 4 units that produce about 11%.

If I change to this format how will I produce reports as follows:1.

A client of mine from Oregon bought an income producing asset in Texas and initially, bought it under a Texas LLC but with time, he found it was so much hassle maintaining a Texas LLC since he still had to pay state taxes in Oregon.Eventually, he formed an Oregon LLC and transferred his property to that new LLC.Whether you go Nevada or something else, how big is your anticipated purchase in terms of units?

Here are the numbers:Purchase Price: $105,000Appraised value: $140,000 (based on my CMA)Each unit is a 1/1 condoHOA: $115 per month Each Unit (Includes Insurance)= 350 TotalTaxes: $1,900 3 Units togetherEach unit has own meter for water and electricAll Units are currently rented @ $650 Each = Total 1,950They need about $10,000 in renovation workThe Idea is to put 50% Down Payment to reduce my Monthly PMT and refinance in a few months later (Have very good credit and financials, but don't know many lenders yet) I own other commercial and residential property, but was done thru regular banks.I Analyzed this deal and managing the units myself, with a 7% Mortgage on the 50%, the unit produces $1,000 dollars a month.

I actually told that to the dufus who was just trying to sell his overpriced complex in the ghetto based on his proforma, and every excuse in the book as to why he can't produce schedule E.

that's a rent to value ratio of 0.3%...much lower than the 1% or 2% rule if you were looking for a rental property.So instead of spending $900,000 to buy a home that you can rent for $3000, you can invest the $900,000 to buy rental property that produces rental income.  

Also, since this is a income-producing multi-family, the appraiser will most likely use and give weight to the income approach to value. 

But my contract states seller must produce a clean marketable title and title insurance.I feel like I really need a mentor I feel like Im in limbo

As for areas in albany.... colleges produce some pretty awsome rents.

I have seen threads on BP were some wholesaler is calling out another wholesaler for advertising their deals with or without permission... wholesaling done right is a very advanced strategy and very hard to do and extremely hard to master.. but you have all these folks thinking its the way to start.. which not sure why they think that other than they can do it if they have no money or they think they can.I just see folks doing this as being out on an island.. the one thing about the real estate brokerage culture is you have companies companies have real support you can go to meetings you can talk with top producers.. you can apprentice and move up the food chain.