@Chad Verdesorry if this comes off as negative / discouraging but rates are high so this is likely what i call expensive money.now on the other hand, if you can do a cash out refinance, pull cash out, still cash flow, AND you have a specific opportunity - fine. 

Avoid negativity, man. 

With such low rental yields, the return on investment (ROI) and cash-on-cash (CoC) return are negative when factoring in mortgage payments only, not including any other factors.In this market, it seems almost impossible to make a profit using traditional rental property investing strategies.

Keep in mind that many of these cheap homes are selling for less than a third of their insurance replacement value, which really means that the land has negative value - let that sink in.Most buyers who can actually qualify for a mortgage will get a PA for $200-300k and desperately want to upgrade their life.

Positive/negative?  

An LLC has no effect negatively or positively on how a full doc lender will calculate your income.

If the answer to both added questions would be "yes", then you have a potential goldmine here.Combining the seller's concerns, and the reality of a big down payment being a negative to the seller (see Q: 1), you should be able to set the terms, with a lower DP, and controlled interest rate, to have this property CF and,...be able to sell the package to another REI down the road,...as long as you buy this using an LLC (a new one). 

So you are negative $600 a month on the first one, you will need to have the personal income to cover it and then still buy the next one.A couple of thoughts:1.

A negative review from a tenant could be a positive review for an owner.Networking: Use forums like BiggerPockets for recommendations, but conduct thorough research yourself.Initial ScreeningNarrow your list to 5-10 candidates by reviewing their websites and scheduling Zoom interviews.

I also read forbearance negatively affects your ability to buy more property.