Looking to build a relationship with a bank, that offers portfolio loans.

If you have questions about the ability to obtain loans, you'll want to make sure whomever you partner is very "lendable" with banks.

TIAErich your best bet would be to amortize it over thirty with a 5 year balloon. the issue with private lenders  vs. banks is private lenders use their money to lend and many times it may not keep up with inflation - so lending for that long does not make sense.

Make sure all property income and expenses flow through the LLC’s bank account moving forward.I recently had a client in a similar situation who waited six months after closing before transferring their property to their LLC.

He does have 100k in the bank.

Alternatively you can invest in better neighborhoods, perhaps be forced to leave some of your cash in the real estate but experience meaningful appreciation or if you choose to sell, be able to turn the forced appreciation into cash in your bank account.

Does anybody know any banks that would be easy to open a business checking account without my partner's physical presence?  

I bought it in cash since it seems most banks don't work with Co-Ops.

It will be a hot market again BUT the fact is that the sales market is absolutely terrible right now.Good luck with your FDIC banking!

You’re effectively acting as the bank, so it’s crucial to vet your buyer thoroughly and possibly require a solid down payment.