It sounds like your finances are tight as a young professional with a family, I'd advice work on increasing your W2 income, with more education or training.

How did you finance this deal?

How did you finance this deal?

4) Are there any restrictions or limitations on the LLC's ability to purchase, sell, or finance property in Texas?

Whether it's worth it if you're still having to pay $1500/mo to live there after renting out the other bedroom is entirely up to you & depends on your finances and lifestyle expectations. 

Post on your insurance, financing, etc.  

got a 4 unit building for sell in the north suburbs of chicago that cost 25k over apprised value but seller said they are will to hold the financing with 100k down. rents out for just over market rates leaving a noi of around 30k. so my question is, even tho he's over market and appraised value, but willing to hold the balance of mortgage, is this deal worth it?

Beauty of creative financing =)

Probably still not cheap enough for most investors to pull the trigger and probably too "run down" or difficult to finance for retail buyers.

It appears the units are below market, however with some cosmetic repairs and perhaps some capex's I feel I could increase the rent by at minimum (based on local comps) 68%.I would offer 85% of list and estimated $20,000 in repairs/upgrades (this is probably a generous estimate - the property appears to be in good shape, basically needs a face lift).With all these figures, including the 50% rule, financing with 20% down @ 3.5%, I come out to a profit of $262 per unit and a cash-on-cash return of 9.53%.So, does this seems reasonable?