Call 3 references:  Verify that they work there, or that it is an actual person by asking where they work first, and don't mention who you are until after.  

The one who thinks that they are masters of the universe in EVERY area of life, has 30 different businesses, claims to be fit as a fiddle, with a life in perfect harmony, shows off huge toys, has 30 different businesses, including selling their time by the hour to provide coaching... this person is not running a real estate syndication business.

Would a HELOC or home equity loan on my personal home be a good idea to fund this?  

T First person I've heard say I look forward to the losses.

@Laurens Van swol a few banks that we've worked with in the past allow you to close in your personal name.

I have a 2-person unit with a glass top dining table and it has worked well.

He never picks the student that just wants to earn $x / month in passive cash-flow.  

You also have the option to close these DSCR loans in your LLC as opposed to your personal name.Our team finances just shy of 100 DSCR loans on a monthly basis.

That would be a separate mortgage and not what amounts to a second loan on your personal residence, which if you have spouses, they might not be that into. 

Liability Protection: An LLC provides legal separation between your personal and rental property assets, which can protect personal assets if a lawsuit arises.