Tips on building business credit

[Peter Wyric]

I intend to purchase my first multifamily property with a partner, and was wondering if anyone could help shed some light on the best way to finance this first deal in such a way that it puts us on the right path to eventually being able to use this first property as leverage to purchase additional multifamily properties under a corporation?

Given the poor terms that we're currently being offered on commercial loans by regional credit unions and private lenders, my partner and I are contemplating the thought of acquiring an FHA loan to finance the first property. Both my partner and I work full-time jobs during the day, have excellent creditworthiness, and are willing to occupy one of the units in order to qualify for the FHA loan. The only problem we foresee with pursuing this route is that the lender may invoke the DOS clause if / when we quitclaim the deed into the LLC's name. What would be the best way to establish business credit in a corporation if we went this route?