Count me in; Schaumburg would be perfect ! 

I drive a 95 nissan pick-up, Paid for, good milege Why spend 50k on a fancy car that will go down in value ( not counting collector vehicles) I would rather spent 50k on a down payment on more real estate for more cash flow

However, I can tell you this based on 40+ years having purchased over 150 properties, financed over 500, and brokered too many to count.  

However, STR will not count towards REPS.

And that doesn’t even count the additional income they would make from putting the tax free gain in a 5+% CD.

I am asking because the below-grade basement is not counted toward living space in Kentucky, even if it is finished, and I was told that appraisers count only half of the basement space when valuing the property.

We do offer bank statement HELOCs for business owners who don't show income on paper but can show revenue coming in(bank statements), doesn't sound like that applies here.Freddie Mac allows for assets to be counted as income, 70% of total divided by 240.

That should fix your cash flow issue while also giving you a bit more security, since you're not counting on a single lease anymore.

I was wondering whether I can show an executed lease between me and my LLC to make 75% of the rental income stated in the lease count toward qualifying for the new primary residence mortgage which allows me to put down only 5%.

You will have to have an experienced team of contractors under your belt to assess the property and a good realtor who is a great marketer; don't just count on MLS.