There is no UBIT because your investment isn't leveraged with a mortgage or debt.

Is your LLC authorized to incur debt without Investor approval? 

Since you’re assuming this debt as part of the purchase, understanding the exact amount is critical.

There is almost no scenario where a condo would ever positive cash flow while servicing debt, and very little positive cash flow with no debt.If your budget only allows for a condo, find a better place to put your money to work.   

If it's worth $1.3 million today, it will be worth $3 million or more in 20 years, you'll have paid off the debt (or most of it), you'll earn at least $3 million in cash flow over those 20 years, and you'll have tax benefits.

If you've not read Debt Cleanse, you should.

FHA is easier to qualify for and allows for higher debt to income.If you have not spoken to your lender already, you should also just look into the HomeStyle Renovation loan.

Having a lease in place will help you as well - some lenders won't refi a vacant property.For your refi, you're usually looking at 75-80% max LTV with a debt service loan.

My wife and I plan to purchase a few properties ourselves, but with the lead generation strategies I’ll be implementing, I expect to come across more deals than we can personally handle.That’s where you come in!

So is this just as simple as showing how much the property makes or do they also look at personal debt to income, credit score, reserves etc as well.