If you don't plan on paying cash and have to leverage with an owner-occupied loan product then you should set up your LLC as a property management company because you will not be able to borrow in the name of the LLC.  

I think this was to ensure your buyer can qualify for a loan.

We invest in non performing loans and do some private lending as well.

Commercial loans are also tracked. 

You may not collect anything, but it will sit on his credit report and prevent him from getting a car loan, home loan, or scamming another landlord.

I did a DSCR cashout loan from my other rental to buy and reno.

I'd anticipate financing wise at least 6 months but would always recommend a 18 month financing term on your loan if your getting one. 

The rent from the other units is used to help you qualify for the loan as well.

Go to Omaha and Sioux city tomorrow for inspections and client meets. 3. close new loan with my bank unsecured ( those babys can be tough to get).4. get my mind ready for 9 grandkids at the house this is the toughest one :)  Patience 5. firm up goals for 25 solidify my new clients that I have gotten in Q 4 24.

We drive to the property for every loan we make and get a feel for the street scene.