If you need financial help, ask under the "Finance, Tax, and Legal" forum.

More importantly, get the high interest rate debt paid off first.

The didn't live within their means, accrued a lot of debt, and it eventually resulted in them not paying rent and being evicted.Consolidating debt reduces their payments so they have more money available, but it doesn't automatically teach them to live within their means.

I always make sure that the properties are cash flow positive, but the large bulk of the money I make from them is from the other items (appreciation, debt paydown, tax benefits, etc). 

Over the past eight years, I have collaborated with hundreds of out-of-state investors, helping them find cash-flowing properties aligned with their financial goals. 

I think what you describe is pretty much standard performance for rental properties if your not paying cash and I am just assuming your putting max debt on them to try to get your return numbers into your criteria..

The LLC is a pass through entity and will show up on your personal Schedule E and once the property shows up on the LLC, the debt (that probably won't show on your personal credit report) will be included in your total debt. 

Registration and Financial Considerations for the Second Company:Is it possible to register the second LLC on the property (as part of the 50%-50% model) if it does not yet have an EIN (Employer Identification Number)?

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

I would be amazed, shocked even, if a traditional financial institution was willing to lend on a non-habitable asset up to 80%.