As a newcomer to BiggerPockets Pro, I'm excited to expand my existing portfolio, which currently includes 7 properties/10 doors.I've decided to shift my focus to the Northwest Indiana market.

Alternative options include offering a significant down payment, a lease-option agreement, a joint venture, or a deferred closing to align with John's timeline.

It's important to understand the difference, and I'd recommend sticking with the REIT with depreciation advantages.The Tax Cut and Jobs Act (TCJA) includes a 199A deduction and applies to certain income from pass-through entities (including REIT dividends) and allows individuals to take the 20% deduction against REIT dividend distributions that yields an effective tax rate of 29.6% or 37% (80% for upper bracket filers).

There's a nexus of factors tied to the LLC lending question worth noting.Typically we use a specific type of private business-purpose note that enables LLC lending.Other benefits of this note include: No Income Verification, No Credit Reporting, LLC Liability and Privacy protection, Unlimited Number of Loans, Far Less Documentation,... many obvious and non-obvious reasons savvy investors run this route.These notes are also competitive with FHA/VA/Conventional interest rates; however a 15-20% minimum down payment is required.Happy to help you cover the bases.

Quote from @Madelyn Felix: ShowMojo and Tenant Turner include insurance against those issues.

I was told to get a home under contract via the Option to Purchase contract (include a consideration fee given to the seller) and getting all signatures done with a copy given to the seller.

Currently we have about 135 tenants, not including parents who call/email me whenever they want due to having a bunch of needy, entitled honestly 22ish year olds.   

the place came w/ a fully liveable basement, including kitchen, shower bathroom the rooms have windows.  

Study landlord basics, especially on what to include in your lease (going forward you will ALWAYS have a written lease).(2.5 Learn from mistakes and don't repeat them.)

At the end of the day, you'll still need good credit, income (rental income from the property will suffice for DSCR loans), and cash to close, including a downpayment (likely 20%+).