There's < 2 months of seasoning for the purchase, cash into the deal is ~$975k w/o rehab (minimal planned so far - turnkey), purchased the property for 35-40% below assessed value, 825+ FICO, and would optimally like to pull out $975K-$1.15M of equity.Main scenarios we've thought of to accomplish this are: 1) structure sale of property from SMLLC to self and secure 30-year new purchase financing on deal (unsure if legal and tax implications if above initial cost basis)2) delayed financing (LTV restrictions a concern)3) cash out refi (seasoning concerns)4) DSCR (seasoning and rate competitiveness concerns)5) one of the above plus a HELOC, personal loan, etc.?

He is willing to deduct money off the cost of the building for the needed repairs and just lower the price for me to do the work.  

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Look:The reason you need to do more to make it "work" is because:The success rate of that strategy is SO DARN LOW that you need to send THOUSANDS of mailers, calls, or texts to COMPENSATE for the low performance of that strategy.So in other words...Because it does NOT work, you need to do a LOT of it, to compensate for the fact that it  does NOT work, to get a deal... so you conclude..

And it's wiped out by the higher costs mentioned. 

Short term rentals can work in urban areas too...people travel for many reasons. 

The seller needed to sell quickly due to personal reasons, which allowed us to negotiate favorable terms.

The company stated, "The closings were brought about by the rising cost of doing business in California."

@Tyriek Hull most important is getting title insurance and closing with a Warranty Deed, not a Quit Claim Deed.Only reasons to use agent:1) Leverage their knowledge and they may save you serious mistake2) Someone has to do the paperwork!

Is there a way to accurately evaluate the repair cost of this kind of issue?