One issue is the challenge of qualifying, as conventional loans will have DTI requirements, income requirements, loan size limits, and loan amount limits that investors looking to scale a portfolio run into as soon as the financial freedom snowball starts rolling.

Executive Summary Current and Past Financials Market & Property LOCATION/ECONOMYJOBS RENTS & VACANCIESUNITS Value-Add Business PlanTeam In Place Exit Strategies Personal financials Personal biographies / resumes

Aside from financial risk, to me the biggest risks were lack of knowledge, experience, and contacts and so by working with turnkey providers I've attempted to mitigate those risks by relying on them.

A bridge loan is a form of short-term financing that helps you “bridge” the financial gap between selling your current home and buying a new home.

It sounds like if you own 100% of the LLC and are on the properties mortgages you are in the financial drivers seat.

This older gentleman is financially "set" and does not need the money. 

I initially was going to do a commercial loan and purchase my next house as an actual investment property, but financially it made a lot more sense for me to move into it and put a lot less money down upfront and have a lower interest rate.

This will depend on the rest of your financial picture.  

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

Additionally, if the borrower faces financial difficulties, they’re more likely to prioritize payments on the first mortgage to avoid foreclosure, which could lead to missed payments on the second loan.