Another thing to consider... if there are mice, and they start chewing through electrical, that becomes your problem.

Here's some generic LLC advice to chew on.Warning: I am not an attorney, and this can be a complicated topic.

Sure, not every deal will feel like a slam dunk, adn sometimes you’ll wonder if you’ve bitten off more than you can chew, but that’s exactly how you grow as an investor.

I am the opposite I have never bought new tires for a car in the last 20 plus years except for my Porsche which chews them up. and my model X Tesla which weighs a ton.. when i need new tires I get a new car :)  PS when the clutch went out on the Porsche at 25k miles and out of warranty it was 5k to fix it..

This of course depends on your starting bank roll - but if its like mine (under 100k) - Im trying to put as little as possible into it on top of initial equity and fees.this will likely chew a big hole in your ROI  (now if you are looking to improve value with a cash out refi or a great prospect comes along that needs combo new plumbing, roof, windows, foundation repair, etc - well just make sure you know what youre getting into and/or have a good contractor and finger on the pulse of the market when estimating the ARV YOURSELF - couple missed items and you risk having a bad first investment and not doing it again).    7) dont be scared be ambitious ( i should heed my own advice sometimes) 8) define numbers goals within your target areas.  

My dilemma is the mortgage is a little over 50% of my take home pay from my W-2 and I am worried that I am biting off more than I can chew.

I think it can be profitable for seasoned real estate investors who have both the time and expertise to make sure their rehab project stays on budget, but I definitely wouldn’t recommend biting off more you can chew and doing BRRRR for your first deal.

If deliveried right it sill us a hard one for most to chew on.

So by that "rule" you will have a lot to chew on.OR you could scan for well-constructed properties not in a flood zone and have a much smoother time.

No one else is going to want to tell you this, but it looks from the post like you bit off more than you can chew.