True, converting a personal Schedule E to a partnership will indeed reduce your IRS audit chances, statistically speaking.

Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.

It will be even harder as a young person with no life experience, and particularly no experience buying real estate. 

Lots of loan options can close in an LLC, helocs usually need to close in your personal name.

Quote from @John Friendas: As a person with an average salary, I was wondering what the maximum amount of DSCR loans a lender would give out would look like?

My goal is to wholesale some properties single and multifamily to build some capital while fixing my personal credit and building my business credit.

Your IRA can borrow, but you have to be careful to not personally guarantee it.

Another benefit is it is much easier to diversify into multiple markets, asset classes and operators.Just wanted to share an alternative - often active investing is the way to go, but it really depends on the person and it is important to know that there are passive ways to accomplish your financial goals.Good luck!

For my own personal goal reasons, I am going to still with searching for a lender who will be open to it.

- Loss of historical data (for both IRS audits and for personal portfolio tracking.)You should be able to print the general ledger and Balance sheet / income statement for each period.