I financed this property using down payment funds from 403B and a local commercial bank. 15% down from personal funds. 85% down from community commercial bank. 3yr balloon, 20yr amortization, 7% interest rate.

Nevertheless, Jeff told me he thought I had a shot with this bank, and that I should go down and meet with the president.

Most people think real estate investing requires huge capital, perfect credit, or bank loans—but that’s not always true.

The facilitator’s address was in a mobile home park, and the bank account could not be verified.Inconsistent Identification: Despite receiving a copy of Chris Anderson’s driver’s license, phone number tracing showed no connection to him.Incident 2: 2nd Financial Opinion ServicesThis entity appeared more sophisticated but was equally deceptive:Authentic-Looking Documentation: The LLC was legitimately registered in Missouri, with a seemingly professional website and clean background checks.Misleading Identification: After requesting proof of legitimacy, a passport with the supposed principal's photo and corporate documents from the State of Missouri were provided.

You can put a mortgage into a "trust: without triggering a due on sale but again contacting your bank/lender is the best route to avoid any issues.Some banks/lenders or servicing companies change guidelines and even a trust may require other paperwork but the attorney usually facilitates that to be safe.  

Would banks typically provide a HELOC on an investment property, and if so, what terms should I expect?

Additionally, forming a new LLC may require obtaining a new EIN and business bank account.This post does not create a CPA-Client relationship.

Should I be concerned the bank may have issues with this? 

As a PMC, we allow tenants to:1) Mail in rent (we charge a Processing Fee)2) Deposit at our bank (we charge a Processing Fee, but less than the mailing one)3) Use Zelle, Venmo, etc. 

We also have a bank account at a smaller Chicago community bank, but there technology isn't as good to be honest.I think @Jonathan Greene's main point is don't step over dollars to pick up pennies.