Quote from @Gary Bonds: Any best practices when attempting to secure business funding from a bank, in the form of a loan or credit?

Depends who you ask and how secure you feel about your income On the one hand being debt free is great, but leverage allows us to build our wealth quicker.RE investors are notorious for being cash poor, so I would avoid thatIf youre able to comfortably save 100k a year and have enough reserves, I think buying leveraged properties is the best way to scale.You could kill two birds with one stone theoreticallyThey say paying an extra month a year towards principal saves you 7 years on a 30 year fixed mortgageUsing that logic you can add 2+ months a year on your primary, and buy 1 property a year and keep enough reserves. 

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.

I did not read the rules around security deposits. you may be allowed to use those funds and still file a small claims action for any remainder, but I can't imagine that it would be worth it if you have at least one month's rent in security deposit. 

Consulting a tax professional is key to ensuring compliance and maximizing benefits.

For simplicity, consider forming separate LLCs in each state for properties, using a revocable living trust for probate avoidance, and securing umbrella insurance.

with auto-pay options, automatic late fees, and reminders, lease signing, security deposit collection, etc. 

Our team’s expertise in evaluating similar homes ensured the seller agreed on a fair price, making this a seamless acquisition for Partner Driven and our partner, Billy Medlen.

Built in security as I don't visit the land much as I am in Connecticut.

I do this to ensure they understand the cleanliness and cooperation is key to this model working for them and myself.