I also have 2 years of construction experience from high school and absolutely no knowledge of this business before recently, so I could use a mentor for awhile getting up and running - especially with details like taxes and different types of contracts other than traditional assignable and buy then sell.

Working with someone buying one is a certain amount of work, but once you train a buyer on the process, it runs pretty smoothly and there are a lot fewer items to cover on the second and third, etc.

Run the numbers through the calculator and see where the break even points are and don't forget debt service.

They are not happy the Governor did an end-run around the City Council giving them no opportunity to insert themselves and their (often times valid) agendas into this decision.

Gives honest feedback, and helps you run the numbers. 

I cant speak to this property or the market you are in, but $3400 in rent on a $450k property in my market would be a home run. 

You really have to run the numbers on this particular property to understand if it's a good deal.

To further this topic, do you use the 2.5x and 3x as blanket criteria for C and B class neighborhoods or do you also consider sub-communities (e.g a nicer complex in a C area or a more run down in a B area)?

I have run into a problem with a cash out refinance on a rental property.  

I know things may vary a little state by state.Secondly, if we do buy the home in our personal names and never transfer it to the LLC, we can still run the rental payments through the LLC.