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I've personally utilized private notes on three transactions and participated in another handful of negotiations with sellers on behalf of buyers in the past five years. 

Fast forward 2 years his landlord mentioned in passing he might sell the property; I was the first person on his mind.

Quote from @Irina Badal: I heard for anonymity purpose it’s advisable to set up a personal residence trust.

So PLEASE don’t make another huge financial decision and then tell that same person after you do it.

Instead, consider a HELOC or home equity loan to fund repairs, as the interest may be deductible if used for home improvements.This post does not create a CPA-Client relationship.

Most DSCR loans allow LLCs to hold title and sign the note.

BUT, let’s say for personal reasons you want to “stretch” for faster wealth accumulation.  

So I wonder if I can sell my home in Idaho, purchase the new one under my personal name, then how many months or years must pass before I can setup an LLC as the owner of my primary residence, or if you think that will be a good idea? 

Appreciation is only a THEORY until a person SELLS, be it gain or loss.