The only reason we did it was because the numbers were good enough that we were willing to pay the additional cost to get the squatters our. 

sometimes, just one is good enough. 

its all about getting the 10k in the door. then the deals have to be good enough that a HML thats in their stable will lend on it without you bringing in more money.. again very rare.

They told me their contractor that built it three years earlier had sworn to them it was more than good enough. 

Once you have a good enough score you can apply for a regular credit card of loan. 

It’s not that the data aren’t good enough.

I don't have the SSN from any of my tenants due to this but I do have a copy of their Drivers License number which I feel is good enough. 

If so do we need to declare this structure inside the LLC's operating agreement, or is a verbal agreement between me and my brother good enough?

If the deal is good enough (i.e. has meat on the bones), investors usually have no issues obtaining financing via hard money, private money or other lending options.Your experience will likely be similar so I'd recommend spending time/effort on finding and negotiating deals.

Being raised near Winmark in Port St Joe this has been “up and coming” since I was in high school and we are talking 18 years ago.I was just there visiting my parents and I do see some more houses going in there and maybe the popularity from the hurricane has brought many investors but I still know what it is like there come August-Feb (ghost town) and that is why I personally haven’t owned anything (yet) back home for short term.Now I could be wrong and the money is good enough to offset all the slow months.Just giving my perspective as I would be more inclined to buy something in Panama or Destin where there might be more foot traffic if I had to pick between them.