If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Also, I’ve read that aiming for an ARV of around 70-80% is ideal for BRRRR—does that align with your experience?

Ideally, I'd create a shortlist of PMCs that other investors have recommended, and then put them through that selection process that you've mentioned.

This means an LLC with an operating agreement specifying the IRS regulations regarding prohibited transactions, disqualified individuals, and others.

Loans like this can be useful or very dangerous, depending on how you manage your business.The ideal situation for a loan like this is when you have a property that will take a while to get up and running. 

However, I would encourage you to Network work local real estate clubs in the PA/NJ area to help identify your target market and ideal investment for your first property.

And in the same complex later built units had individual heat pumps and hot water heaters which the unit occupant pays. 

I’m here to connect with like-minded individuals, gain insights from others, and contribute value wherever I can in the real estate field.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

I was thinking Form 8832 is the one, but I am confused when I get to question #3 since this entity is technically owned by more than one individual.