Then you could keep an eye on the larger house you're renting out - or vice-versa. 

People always go for the cheapest financing, quit claim in to an LLC and go about their lives, when they've essentially done nothing to protect their personal assets. 

Find a realtor that preferably has some investment experience that you get along well with and keep an eye out on sites such as realtor, craigslist, etc.

@Tom Chen is pretty much correct in explaining how it works and how your investment is protected.

The 70% LTV and 3% origination cost you mentioned are typical, but they can definitely vary depending on the lender and the specific deal.Regarding the LLC or Trust, you're right, it's a good idea to explore those options for asset protection and potential tax benefits.

I’ve been eyeing a property but don’t know too much about this specific area - I grew up in Cincinnati but never really knew much about it. 

I have a self check-in listing on Peerspace. I've collect their photo ID, contact information, and I've been asking all guest to obtain COI from all confirmed bookings prior to their arrival. However, Peerspace has $1...

If the purpose for the entity is liability protection, you should be having a conversation with an attorney.If the purpose for the entity the accountant should be able to provide any feedback if there is any tax saving opportuities with the LLC formation.Best of luck to you

The location really caught our eye—close to Uptown Charlotte, which is always a hot area.

I am a sucker for houses with character/old houses, so I had my eye on it;) How did you find this deal and how did you negotiate it?