They wouldn't be able to get a mortgage, but would have to do some kind of SBA loan or other commercial loan for the business with the properties as part of the business.

You would have to check the loan terms.

I concur with @Joe Davis and do the same with my company, however I refer other loan types outside of Transactional Funding loans to others.

and also, should I be recording the owner finance loan in any other place besides the properties tab? 

I focus heavily on the sell side and on the buy side only work with high net worth individuals so the newbie wanting a 400k multifamily with an FHA loan probably isn't for me. 

You can easily cancel a listing, the property can sit for months because of market conditions and unrealistic expectations, buyer can fall out because of a bad loan or issues with the property.

It’s a bonus if the bank offering the HELOC also handles BRRR loans — they’ll be more flexible and accommodating when it’s time to pay off the HELOC with a new loan!

The appraisal came in at $245K, but they are only loaning me 70% of the ARV.

They close hundreds of loans a month and charge you for any hold up on their end.

Want to get a loan for $250k in AZ