I'm looking for a similar type thing.

Though not a multifamily I have also purchased these type of properties in Michigan as buy and hold properties.

Early research tells me that rental rates are pretty good here (about $1.25 per sqft), but would like to see if real investors on the ground experience the same.Also, on flood insurance, i'm finding quotes ranging from $600/yr to $1,500/yr but not clear how that works within the different flood zones and asset types.

But as a newbie, I would like to have an experienced person alongside to help me avoid some very costly mistakes as I pursue the acquisition of one or both of these types of properties.   

Hello Michael,What type of property are you looking to refinance? 

We're looking for an attorney that can help us sort out whether we would be limited to monthly rentals or if we could possibly do shorter, AirBnB-type rentals in some or all of the units.

Also do you have some type of clause in your contracts about a lower appraisal?

I knew the downsides of this type of investment but felt that our natural tendencies to over analyse everything needed to be combated by a swift decision and action. 

(The same thing can be accomplished with a different type of trust to keep your name anonymous for the actual LLC, also.)The OP of the thread would still need to deal with the franchise tax from CA, there are other strategies to work around that fee while still keeping your assets protected.

The ones I tend to come in contact with are clueless and a waste of time.If most wholesalers became educated on evaluating properties properly and trying to form long lasting relationships instead of looking for a quick buck with little effort they might actually get somewhere.If you are a wholesaler you likely have one type of main customer a flipper.