Based on what you described, you sound like a "dealer" as opposed to an "investor."

It was built 10 years ago, the build quality is much better than anything we do here for apartment buidings(18 inch brick exterior plus very thick insulation, solid brick interior walls, tripple pane windows etc) and his cost is about 700 per month plus utilities.Now that is really bad news for real estate investors, cash flow is tough.

Holding any asset in an entity as opposed to personally MAY limit potential liability solely to that entity and not expose other personal assets.  

The seller is able to defer out their capital gain over several years as opposed to taking the gain all in the first year.

However a turn of events now has us deciding to sell the secondary and buying a rental closer to the new primary in essence starting from scratch as opposed to turning the existing secondary into a rental. 

If from the time you buy it until the time you refinance it is more than 6 months, then you can likely use the new appraised value for the DSCR as opposed to the amount you paid for it (plus renovation costs).

This may involve cutting through the exterior walls and installing new openings.8.

It's ironic that all of the people who are so opposed to this 50 year mortgage over a 30 year mortgage aren't going with a 10 or 15 year mortgage over a 30 year mortgage.Who decided that the Mendoza Line on acceptable interest payments over the duration of the loan is the 30 year amortization?

So as a buyer, you get no representation and the seller is still paying for it.On top of the legal issues, I have an ethical problem and feel I can represent opposing parties.

Plus, studying up on numerous resources and talking with numerous investors will give you a broad perspective on the many approaches to REI (as opposed to getting the relatively narrow perspective of just one mentor who has just one approach).