LLCs are ineligible for FHA loans and other government-sponsored mortgage programs

Any guidance would be most appreciated, so we can be better prepared for our tax returns next year.Thanks so much for your time !

In my experience, most properties that go to auction end up overpriced so I'd be prepared to attend a LOT in order to get something that worked on paper.When I attended my first market auction with an experienced agent the advice he gave me was to figure out my maximum beforehand and stick to it (Seems obvious but people get caught up in winning).

And there are lots of conventional loan programs where you can put down <20%If it were me, and I was committed to purchasing, I would try and land an off market property needing a bunch of work and force appreciation that way.

There are 30 year fixed options and there are generally programs for 1-4 units and 5-8 units. 

Your interest rate, on a fixed rate loan, should remain unchanged and your mortgage should not be called due.However you should still confirm that this is the case with your lender (and read your mortgage commitment) out of an abundance of caution and because some loans and programs do require a longer seasoning period.

When flipping, the most important thing is understanding the available loan programs for potential buyers.

Quote from @Eddie Ray: Im currently looking for a RE tax professional/preparer in San Diego, CA.

If you can clearly define your buy box and be up front with any program you go with, then you should be ready to go!

Being prepared for these hurdles can make all the difference in achieving long-term success.