This is a little over simplified (there are closing costs and holding costs) but that's the concept.  

Loans taken out before this date are generally grandfathered in and not subject to the limitation.Purpose of the Limitation: The $750,000 cap was implemented as part of the Tax Cuts and Jobs Act (TCJA) primarily to limit the deductibility of mortgage interest on newly originated loans and to simplify the tax code.

I'll try to simplify it as much as possible. - CMHA shows a FMR of $1329 https://www.cmha.net/housing/landlords/rent.php (hopefully you can understand that).

If someone could simplify the steps to opening an LLC for a full-time house flipper that plans to also get a general contractors license in the near future.

Mechanically speaking, that whole process is what a title company provides, and it definitely simplifies things (and generally provides better assurance of a good outcome) to use a title company whenever possibly. 

I understand you see this as unfair, but you need to simplify this situation.

When I'm not talking to someone with a background in Finance or Accounting I try to simplify statements which is what I've done here with my responses, if not we'd be getting into the weeds on these post talking about EBITDA and other variables when we discuss our numbers on our assets.

When you make them your tenant the only issue is not paying so it simplifies things. 4.

The way you describe this is as a pass through entity which is sufficient and simplifies everything.

Additionally, think about property management to simplify things.