Renovate, any reason.

Steven Hamilton II thanks for the info.If the OP had formed their LLC last year and in the OA laid out their intent to find, acquire, renovate, and manage properties would they be have been able to write off the mileage as a necessary expense for these business purposes?

You could also take a larger security deposit (if your state allows this) or prepaid rent (if tenant has the money), but you're still taking a risk dealing with people you know nothing about.

ie, say 10% down is possible, is that OK, or should a larger DP (20%) be enforced since it affects "our" monthly loan payment, and ultimately our cash flow to split?

The larger the bank the more likely they are to blow yo off and say "watch for when it is listed"You will be better served by moving on and finding an easier deal.

There were two lots that had been split off of a larger lot, into 3 lots.

Then, start quantifying your 'walk away' point.How much are you budgeting for renovations / remodel?

The shallow end is often larger than the deep end.

This will never work.I am not a house flipper or renovator, so take this with a grain of salt, but I think this is a brilliant idea.

Typically, institutional investors have larger amounts of capital to deploy therefore, the trades are bigger.