I look forward to connecting with like minded individuals and expanding my network within the real estate community!

Keep in mind that only the "building basis" can be segregated and will benefit from accelerated depreciation.

I do this for piece of mind and redundancy.  

BP is a great place to definitely learn and connect with like-minded people. 

VA loans are the only loans that allow this, and there is no rate penalty for it no longer being your primary home.With that in mind, you could do a cash out refinance today at a higher rate than current market rates which will create profit on the loan, we can take that profit to pay for your closing costs.

Also, keep in mind that an IN multi member LLC would require a separate tax return, so you would want to budget for extra admin fees.

Big welcome.. do you have a specific neighborhood in mind, or are you still exploring?

Purchasing your first property can be nerve-racking so connecting with like minded individuals is a great start.

And do you have a certain price range in mind and I assume you're good with up to a moderate level of rehab?

Do you mind sharing the name of that type of loan/lender that allows you to have the seller carry on a second position?