Lenders will factor in your minimum monthly payment on the balance of the card. 

Always take a balanced approach.

others have echoed this about the pull out, i agree, i will not count it as a bed. regarding beds in all rooms: it's simply because i do want one room as an office space + that is where i was thinking i'd put the sleeper sofa. so it's more me trying to balance this as a rental + the utility of my own living space, really.

Is one partner's balance sheet required to secure the debt?

Be wary, each fund has risks (some are "levered debt funds", some lend in second position or at higher LTV than you will like, some may lend in regions that make it difficult to foreclose, some may charge high fees or offer low returns). 2) To ask them if they have any notes for sale - Be warned, lenders may try to offload the loans that they don't want to keep on their balance sheets.

We advise landlords to require two main criteria:1) Household income should be at least 40x the monthly rent.2) Applicants must have a credit score of 680 or higher.It's also important to review credit reports for red flags like rental collections or high credit card balances.

Sounds like they lent you the $ vs a partnership with an equity split.I give my private lenders a note (that spells out the interest rate and terms) and deed of trust for physical collateral I then make payments to them and the balance of the loan is paid off with the sale proceeds or a refi.

I’m sure I can hire my own VAs for cheaper but am looking for a balance between ease/efficiency and cost.

Also  I already spent $107,900 and I have mortgage balance $119,000 that I have to close which means I'm going to lose around $115,000  ????????

I would never advise a client to buy a LTR if the LTR income doesn't cover the mortgage balance.