I'm seeking to be in an environment with like minded individuals to learn and network to grow my portfolio and eventually network to collaborate on larger deals once I have a better understanding of the commercial side. 

Most institutional DSCR lenders prefer one lease per property/unit, however, I've seen programs allowing rent by room strategies.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Typically, we conduct background checks on only the individuals who are responsible for the lease (primary resident) and/or cosigners.

I assume you got a better interest rate, and I know you are saving a boatload of interest. 3) imagine year 11-30 where you are cash flowing thousands with paid off properties instead of hundreds because of these lean 10 years. 4) hopefully you can raise rents at least $100 each every year and in 2 years your cash flow neutral even with preferred short term mortgage. 

As far as your primary residence, if you have lived in it 2 out of the last 5 years, you should not have to pay taxes on capital gains (difference between what you paid for it & what you sold it for) up to $250,000 if you file your taxes as an individual and $500,000 if you file jointly with a spouse.Just a disclaimer, I am not a tax professional.

This convenience and leverage can justify the higher cost of these loans.Personally, I prefer using a HELOC because I only have to apply once and can then tackle one or two projects at a time.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

(I prefer to find them myself when I have enough to buy my first property) At most, you get a person who checks on you for the first 4 weeks (once a wk) and then tells you what to do to strengthen your REI avatar.

You have to be a serious individual that takes care business.