It actually went to auction initially on the 8th but no bidders except the starting bid which I believe was the bank.

So you can bank the difference.

You would want to look for an owner that has a loan through a bank or credit union or one that has no mortgage. 

Meaning, the bank wants to see that a property cash flows for typically one to two years of tax returns before they count it as income. 

But that honestly looks like it is all set up to try and be a banking solution (ie, get as many users keeping money in BaseLane's bank accounts so they can make that sweet sweet float on the interest.

. § 1344 – Bank Fraud18 U.S.C.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

Fast forward 20 years: I now have money in the bank, excellent credit, live modestly on my own, and run a business that’s doing well.Unfortunately, I wasn’t able to save much for retirement during most of my life.

You should always talk to a mortgage broker or bank first to find how much you qualify for before starting the investor journey.

Open a dedicated business bank account to separate personal and business finances, ensuring compliance and transparency.