My proposal is to do the following:1) Create an LLC in which my partner and I are both owners/operators2) Have the title of the property put into the name of the LLC via quitclaim deed3) Have the Operating Agreement of the LLC outline ownership based on shares ownership model.

I would recommend doing the opposite. look for land on a per acre basis and focus on how could you make it more valuable. we purchased a piece of land for 60k and just got the appraisal back for 900k based on what we got entitled there for a hotel development in columbus ohio. keep the focus on adding value. forget the loan 

This is a competitive sellers market at the moment with a lot of players working the MLS, you can get some nice base hits here and there, but I don't know of anyone that's hit a homerun buying on the market lately.  

Rates are typically 8-9%+ and it's underwritten based on personal income. 

It would take 4 years to save another $100k before I could make another purchase based solely on the cashflow.

Based on this I am considering going naked in regard to EQ coverage for this specific property.

.🔑 How to Select the Best Section 8 TenantsEven though you can’t discriminate based on Section 8 status, you CAN still screen tenants carefully:✅ Check rental history – Look for evictions, past landlord references, and late payments.✅ Look at their portion of rent – If a tenant pays only $50/month, they may have less financial responsibility than someone paying $500.✅ Require a security deposit – Helps protect against damage.✅ Meet the tenant in person – See how they present themselves.🚀 Final ThoughtsRenting to Section 8 tenants in San Antonio can be a great strategy if you screen properly and understand the rules.

You can also take a podcast and take out top 5 things from that episode and use it for marketing.We last year moved everything over to microsoft which has copilot, so all our meetings are in teams which it transcribes the calls and using copilot if someone says "chris send an email to jamie by friday" it will auto create a task for me so I do not need to go in and create it.Regarding lead gen/tracking, copilot can see our CRM and who we have touched base with and who we have not to re engage or engage with them. 

Based on all this information.

Anecdotally, I've already got $5k in equity before signing the papers based on a comparable property's current list price.