I regularly work with investors who insist on chasing the last dollar.  

So the seller is free to let go of the deal but still has legal recourse if they lost money because the buyer didn’t hold up their end.In short: the lawyer’s saying “make sure the cancellation paperwork kills the old contract cleanly, protects both sides from future claims, but still leaves the seller the right to go after the buyer if they defaulted.”

A mini split is ideal, but even separate baseboard controls will keep tenants comfortable.I’d keep the rehab clean, durable, and functional.

Many of these homes have not been updated in years and need work, which makes them tough to sell to a regular home buyer.

The refinance closed on schedule, releasing equity for the down payment and post-close reserves—creating a repeatable path to scale the portfolio with future DSCR and room-by-room assets.Takeaways for investors using PadSplit/room-by-room models: clean payout records matter, expense transparency strengthens DSCR, and early valuation context helps avoid mismatched comps.

Here’s a clean path I’d suggest use your 10–20% down to house hack a small multi or a single with ADU/room-rent potential.

As a new real estate investor I am needing to decide worth to buy through a LLC or just buy as a regular home owner.

clean up findings and weather Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Remember your current insurance won’t cover you, that’s for a regular rental, not an STR. 

Hey Congrats on getting started That first flip is a great way to learnI’m a real estate bookkeeper and investor and I’ve seen a lot of setups The cleanest way is to set up a separate LLC just for this project That way everything stays organized and it’s clear who owns what and how profits are splitIf it’s more than one person you’ll need a partnership tax return Make sure you open a bank account for the LLC and run all money in and out of there including your funds and the hard money loanAlso make sure you’re tracking everything from day one That means what each of you put in what you spend and what you make This makes tax time a lot easier and helps you see if the deal made moneyFlips are taxed as regular income so keeping clean books helps you catch every deductible expenseLet me know if you want help getting the books set up I do this every day for real estate investorsGood luck with the flip