It's usually the member/borrower's creditworthiness that is the issue and interferes with approval, not the LLC. 

Had the proceeds from my previous sold property.

Quote from @Kisaki Nicole Kaopua: I would run the numbers on that HELOC and and the rental numbers too.

But to date, I've just set my rents at a rate that accounts for me having to pay the water bill - and informed the residents that each year I'll increase the rent based upon my expenses (including water), so keeping the bill down helps me to help them.But one problem this could cause is if increasing the rent to cover the water bill then places your rent above the market rate.

I figure never sell the cow when you can get the milk for free)

He knew the person selling this property and asked if we were interested.

@Alex RosenFollowing this thread as well because I also have a few unmetered properties and wasn't able to get the meters installed before the deadline.

For example in Reno, NV there are many homes with walkout basement areas that can be made into separate studio apartments that will get more rent than just the room in the house.

Hi KeAnna, welcome to the community!

Ain't that the truth Will.