Quote from @Grace Tapfuma: @Benjamin Aaker what sort of a person would I have to speak to, to get more information on this? 

3) Can close in an LLC or in your personal name.Cons to DSCR: 1) The biggest con is the prepayment penalty. 

Recently had a conversation with an MLO who had their license with Company A (NMLS regulated) and then on the side, this person conducted commercial-only business loan-related activity by starting their own LLC (company B) in the states where no mortgage licenses are required.

Hey all, I currently have a new home being built that I would like to keep in my personal portfolio.

You’re still going to be personally sued when something goes wrong. 

@Stacy A Stewart I have personally used DSCR loans to purchase rental properties here in the Dallas/Ft.

They may get paid on the 3rd and need to not initiate a payment until their paycheck hits their account to avoid being overdrawn.I personally have a 5 day grace period and rent is considered paid when the transfer is initiated.

I got a deal on labor as I know the contractor personally and helped out a bit with the project.

-Getting into a situation where you’re borrowing additional funds to close, which if it is an unsecured personal loan, will have an astronomical interest rate compared to borrowing a secured debt like a mortgage.

Bank Recommendations:Chase and Bank of America are popular because of their extensive business banking features and integrations with bookkeeping tools.Smaller community banks or credit unions can offer more personalized service and lower fees, but make sure they support series LLCs.Online banks like Novo or Mercury are great for tech-savvy users who want low fees and easy online management.What to Watch Out For:Hidden fees for transactions or deposits.Limitations on the number of accounts or ACH payments.Difficulty in maintaining clear separation between the series, which could risk the limited liability protection of your LLC.Since you’re using a Series LLC structure, it’s crucial to keep each property’s finances completely separate to maintain liability protection.