Have $500K mortgage.

I think I have paid my full mortgage with the money paid out by Homeroom twice in total, every other month I have to pay out of pocket.Similarly to another poster I had both the laundry machines provided by Homeroom break on me, then on the second one when I asked why they both broke so quickly they indignantly replied that it's 12 years old you know, these things usually only last for 5 years or so, meaning that Homeroom sold me an 11 year old washing machine and then blamed me for that.

You will likely need to find a property that will cover most of your mortgage payment, but not all of it.

Converting your current primary into a house hack by adding a studio helps you offset your current mortgage while learning how to be a landlord.

The market has been incredibly robust the last few years and I don't see that changing anytime soon especially as mortgage rates continue to decrease.

Conventional mortgage product? 

I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

If private companies continue to provide the insurance, I suspect we will see further increased premium costs which will need to be reflected in the rents tenants pay (all tenants: LTR, MTR, STR).  

--------------------------------------I don't think it prevents you as an owner from initiating the action.Personally, I wouldn't have any moratoriums on private transactions.  

The downside is that these types of properties come with high property values, meaning a large mortgage.