It is very common for the typical bank mortgage person to make this mistake. 

I want to do a bank statement loan(I’m an independent contractor)with just me on the new loan in Texas .

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

If the Investor does not disclose to the seller how this process works and the Bank calls them yes you will have a mess and may be hard to undo. 

Get as much info as you can. get their bank statements see what comes in and comes out.

Most banks/credit unions use 20-25 years to calculate the P&I payment (aka Debt Service).Lastly, the LTV "standard" is relatively fluid in the industry.

Looks like property is bank owned.

One was conventional financing and the other was a portfolio loan from a local bank here in Hawaii, I also did a lot of research into DSCR loans during my search.I'm also an agent here on Oahu but focus mainly on Property Management, at the brokerage we manage roughly 50 units that are a mix of STR, MTR, and LTR's. 

He has already mentioned that he is willing to act as the bank, interest-free, which is a great opportunity.

I help investors optimize their financial strategy by implementing the Infinite Banking Concept (IBC), finding the best insurance for their properties and cars, and connecting them with legal experts for living trust creation.