But weigh the costs of insurance and taxes against the cash flow and make your decision accordingly.

An LLC doesn't make a difference in your federal taxes or what you can deduct.What you want to do is technically possible, but there are several hurdles. 

So I do not have a tax filing with the rental income on it yet.

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate) AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.

These are professionals with additional training and a stricter code of ethics.

I started my professional career in medical device sales and still do that full-time.

So, it would then potentially cost you a penalty for early withdrawl and also income tax owed on it.

Note: Florida charges a hefty tax on rentals under 6 months. 

The insights I’ve gained so far have been invaluable, and I’m eager to expand my network and grow alongside other professionals in the field.

@tom shallcross summarized this well in another post and just inflate your numbers up for a $665k purchase price and $2300/mo per unit for rent.Borrow 80% which is like $3700/mo for Principal, Interest, Taxes, and Insurance.