I mentioned this to another lender and he said this is not the case since it will be my LLC and is therefore still tied to my personal credit.I plan to reconnect with both of them for clarification but wanted to see if anyone on here had experience with a similar situation.Thanks!

get an umbrella policy to protect yourself, see if you need a rental license in your municipality. an LLC is only for insulating you for liability and anonymity, it will not save you on taxes and you really dont need to worry about it with one property imo . you cant protect a single property from lawsuit, insurance is what covers you just make sure you’re up to code. insurance will always look for a way to get out of covering an incident.if you register, you’ll want to report the income. if you make less than expected after deducting costs, then it’s time to raise rent. you wont be able to reduce more to reduce other income streams since you're not a full time real estate investorin the future if you ever sell, because it’s a rental now you will owe capital gains on the property. philly is probably like ohio and not california with it’s YoY growth being tied to inflation. with that said your profit is mainly going to be the equity you build from your tenant paying your mortgage. the money earned monthly should be saved as youre doing in case you have a capex repair/replacement come in like HVAC, roofing, etci advise you pay for an hour to speak to a CPA to better your options.good luck

They are higher payments but no $$ tied up. 

As an architect I dont want to do them because I cannot escape any lawsuit in the future (regardless if its my fault or not) because my name/firm is tied to the building.

Hahahah WTFI love it you filthy animal lol 🤣I know it's illegal but I would tare down $40,000 worth of work for lack of payment.Have seen it done many times lolI started my career as a laborer in Sydney.Swept floors for 4 years and carried sheetrock, studs, etc...High rise office fit-outs.Could never take the elevator with the white collar folks as we "where" filthy animals.Funny thing is, I made more money than most of the suit and tie guys 🖕Construction in Oz is very well paid and not much shady biz in not getting paid.But yes, treated like S#@% over there also.

This might help with the interest rate and build a stronger relationship.Congrats on the baby!

I would want to do this, but unfortunately I do feel like everyone is right about me losing money every month and tying up my money in this house.

There are more advantages.The advantages for the buyer include that usually it's a lot easier to qualify for that kind of financing than bank financing, they may not have to have a down payment, they can tie up a property they otherwise couldn't.

The challenging tenant irrelevantly refers to the other tenant’s sex life when confronting them.Multiple tenants have independently expressed similar complaints about the challenging tenant.Reading the lease ( Copy of Lease ) more carefully, we realize now that it could be stronger in areas of being able to terminate the lease - a lesson learned for future tenant leases.The challenging tenant’s lease ends in August 2024, but we were wondering if there is anything that we can do to terminate her lease early based on the lease that we signed.

Also, I THINK doing so doesn't tie up your personal credit, e.g. if you were going to buy a house for yourself.Hope this helps.