I already have an investment analysis workbook built that tells me everything I need to know to make a purchase decision, NOI, COC, ROI, and if the property will achieve the appropriate coverage ratio to be funded. 

You want to be careful not to bite off too much on a first purchase so maybe if more four units or less or available that could be a better starting point with less risk and more ability to learn without potential loss.

Any advice or recommendations on where to purchase a long term property for rent are appreciated!

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Does the LLC legally own the property that was purchased? 

However, due to keep purchasing real estate, my DTI is high and close to 50%.

I am wondering for those who have an LLC for their rental properties if they are purchasing properties with the LLC or if they are purchasing under their name and then transferring to the LLC?

My question is do I go forward with purchasing the property and deal with the higher insurance and potential hazard or is it smarter to walk away?

I have programs that require only 10% down for the purchase, and will finance 100% of the rehab.

What if I told you that you could purchase this property at 20-30% of the initial price, would you take that deal?