Maintenance/cap ex, insurance, if a rental PM, bookkeeping, misc.The fact you have a loan means 1) leverage 2) equity pay down.In addition, there are tax benefits.So I will do some rough underwriting as an OO non-rental at 95% LTV (because FHA has some undesired consequences that make the 1.5% difference in LTV worth avoiding the FHA).equity paydown: 20% (using OP interest rate at 95% LTV and not counting closing costs). 

Cash flow is definitely the biggest challenge; both in terms of finding properties to buy that cash flow with a loan on them and just company wide given interest rates and labor/material is up and, at least where I'm at in Jackson County, MO, taxes are way up too. 

I was able to secure $27k from my parents as a direct non interest family loan and $8k from our savings.

Conventional loan with a 20% down payment.

The investor either gets a loan or buys the property in cash.

P&I stays the same for the duration of the loan.

We took loans under the individual name rather the LLC, would moving under LLC trigger a sale on paper?

Banking has changed. 30 years ago, you could walk into my bank, chat for a while, shake hands, and leave with advice or a loan check.

Secure Smart Financing – Consider FHA, VA, or conventional loans for small multifamily (2-4 units). 

The substitute of collateral was more of a scenario where you sold for $155K, and instead of paying off the $88K loan in your scenario, those funds stayed at the title company and were used on a cash purchase happening nearby in date.