There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

In the situation you're describing, all the leveraged owners of real estate will be the *first* ones to implode right off the bat (and have to turn over the keys to the bank).

I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.

Rents will keep raising in most markets so bank on that for additional cash flow in the upcoming years.

Once you hit a certain number of loans (check with your state dept of banking and finance or dept of business regulation), they might require you to have a license.

Best bet though is a local community business bank.. 

All interest rates and payment plans are custom made to work for both parties therefor creating a win win scenario.As far as partnering with the banks goes.

It links to our business bank account and our business credit card so come tax time, deductions should be easier.

Im thinking about paying the bank the 50lk that we owe and the taxes.

I mean myself and any bank would need more details, but if you utilize that large sum as a downpayment and have a small mortgage, wouldn't you easily qualify for the debt to income?