I calculated her monthly payment is 1300.Since it is a vacant investment property where she will be taking a loss at sale and has been on market for 60 days, I am thinking seller financing may be mutually beneficial.I am planning to make 2 offers:300k with conventional mortgage.

If you are taking out a conventional mortgage of any kind, you can't buy in the LLC as it does not have two years of tax returns.You are also asking if an entire state is good to buy multifamily, which means you are too soon in the process to even talk about buying.

I cant imagine where you'd find better than conventional unless you have a crazy friend with a lot of money.   

I am considering putting an offer on a 2 acre empty lot, in a sloped wooden area in Western North Carolina.

So I'm basically trying to explore if i can borrow money in an alternative way than conventional loan.

You could also use a Fannie May Home style renovation loan which a conventional loan and require 5% down vs.

For investments, you'll likely want a conventional loan for commercial properties.

If your partner does a conventional loan, you would sign allowing the mortgage to be recorded, but you do not need to sign as personal guarantee on the NOTE for a conventional loan either!

Account Closed said, income and assets are the only "hassle" with a conventional loan.

There's also the conventional loan program CHOICERenovation by Freddie Mac.