There are some benefits to having an LLC on reduced liability, but there are more expenses. 

We have offered to allow her to pay a reduced rent for the first few months as well but I am worried that may create some sort of limit on how much we can raise the rent on her in the future.

I retired from my w2 job a few years ago, but recognize that no W2 income reduces loan options.  

Also, just because you will be renting to S8 tenant does not reduce risk.....yes the tenant may be on a voucher and it will cover 70% at the least of the rent but the tenant quality will be low.

I started my professional career in medical device sales and still do that full-time.

Quote from @Michael Challenger: I have no qualms with hard money lending, but I need to learn more about the process and structure to these for typical deals so that I am more comfortable and in a position to reduce my personal risk and risk to investors as much as possible.

Hi, pre foreclosure in all of its permutations, before the bank sends Notice of Default (NOD) or efter which is state even county dependant but often starts a 4 week clock till the trustee auction are the 2nd most difficult deal scenario and IMHO only experienced investors should bother, the 1st most difficult deal scenario are bidding at the court house steps on lord only knows what is being auctioned off sometimes even 2nd mortgages, you need to do so much home work to attempt to reduce your risk at the court house steps...Pre foreclosure no one talks about these issues, always about the nice sounding stuff like "motivated seller" get a good deal etc etc both are usually not the case.- 95% of folks in pre or post NOD want to stay in their house, keep their house inspite of them 100% will loose the house at the auction. 

We have had to reduce nightly rates 30% just to get bookings in my area which is Port Saint Lucie, Fl. 

Having a group of friends living in an apartment complex creates a sense of community and reduces turnover.

Purchase price: $715,000 Cash invested: $297,000 Current Price: $830,000 (originally $950,000 on 4/13/2024, reduced by $120,000 in 6 months).