Im a little concerned as finding a lease loophole isn't the ideal way of starting a rental relationship.

Ideally, invest in both.

Ideally one with insurance to cover any issues. 2.

Pay your expenses for each property out of the respective LLC' account; ideally these should be business accounts. 

I am trying  to purchase a multifamily house , outside of the city where i live it wis about 150  miles from my location ,  how do i figure out the demographics of the area and also the medium income around the area where i am planning to purchase . do i need to look for any big stores/shopping malls or any govt offices around the area to see if the place would be ideal for purchasing the property for renting it .

I'm considering a house hacking strategy in the greater Houston area, ideally within a 30-minute drive of Rice University (including Fort Bend County).

.$308k purchase, ideally 15% down, with rehab budget of $112k (ARLTV at 75%).This way you put $46,200 down plus closing costs on the HML.Then you're DSCR RT refinancing at 74% LTV (better pricing, and gives you the extra cash to work on the rehab, just not financed through the HML).Thoughts?

The good news is they still capture that we're waterfront, have a pool and outdoor bar in the image, but it's not my ideal choice.

I agree that it's not ideal to use if you don't need it but when rates decrease today's price will look cheap and you will regret waiting to purchase.  

Ideally, it's best to have reserves before acquiring a property as it shows financial responsibility to potential lenders.