You will pay upfront points for the "risk" the banks take for not digging into the borrower's ability to pay.

For me, the problem was, I did not know what I know today and the only loan I thought was available to me was from a bank.

(outside of going after your personal assets) Banks and financial institutions are too smart to be putting themselves in this type of scenario.  

Hi there,I was wondering if anyone has experience with using Baselane for banking for their rental properties and thoughts on it.I will be closing on my first rental property in about a week and would like any helpful input on apps such as TenantCloud, rented, turbotenant, etc.Located in NE Ohio if that is a factor.

The single family I bought for $55,000.00 financed with a bank with 20% down.

David,One piece of advice I can give you is 99.99% of banks and lenders will not finance that property due to the ADU and units where there was "no permit" pulled.

An LLC would be useful for  banking, accounting and tax return preparation.

The due on sale clause will be the biggest worry, even though it's uncommon for banks to enforce it, they have the opportunity to at any time.

Ask for 1-3 months of their most recent bank statements.

there are 2 liens already on the property - bank and a private lender.What are other recourses1.