Like other posters have mentioned - it will likely vary by lender - but generally most states will be OK with either Individual or LLC but there are a handful of states that due to various regulatory interpretations will require a LLC (or require a LLC to have prepayment penalties on the loan structure) Borrower = Individual or Entity AL, AK, AR, AZ, CA, CO, CT, DE, DC, HI, ID, IL, IN, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, NE, NH, NJ, NM, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VT, WA, WV, WI, WY Borrower = Entity only GA, FL, IA, MT, RI, VA (1-4 Units) Prepayment Allowed Vested Entities Only IL, NJ

I have lived in the property for more than 3 years and we have been the only occupants in the home since it was built.The potential cashflow isn't the best but our primary goals were to build up the equity in the home to be able to potentially purchase other properties in the future with the chance that we may return to the house in the future.The property is in the Castle Hills area in the northern side of DFW which for those who don't know is generally a neighborhood with higher income tenants. 1. 

Keeps the large expenses at bay for that first year so you can build up those reserves.

As I build up my SFR portfolio I am starting to ask myself: “Is the idea of SFR cashflow simply a spreadsheet myth?”

Since you've built 24 specs, maybe do some more & build up your war chest? 

It takes time to build up these relationships.  

Also how to build up my profile/portfolio as an investor.

The goal here was to allow the borrower to build-up cash reserves to get his operations stabilized and the assets in a position to be refinanced.

We used to deliver our PPM, Operating Agreement and Subscription Agreement by US Postal Service; around 2005 we started using email, but still had to receive a hard copy with ink signature.

Wholesaling is a great way to build up capital to start investing in real estate and you learn a lot of the real estate industry in the meantime.