@Ross DerouenBigger Pockets is a great place to find an accountant specializing in real estate taxation.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

So since this is four units, I expect it will be a little more but not 4x as much. 

The only person willing to lend me money was Paulie—a guy who charged a point a week and always had a baseball bat within arm’s reach.

At some point your business partner will want his cut (Federal Gov).

My advice would be go for the most they will loan you as long as you're in an appreciating market and you can find a value-add.

You can typically count 75% of the previous rental income (from the units you will not live in) toward your qualifying income.

If it looks like s*** you will get tenants who also don't give a f***, excuse my plain words.

We will probably pivot one or both to be long term rentals.

@Scott Cash Hopefully you have an exit clause in your LLC documents that lays out what will happen if one or more members wants to exit the deal.

Having owned property in rockford its not a great appreciation area so getting a HELOC will probably take 5-10 years based on loan pay down and maybe some slight appreciation.