Personally, I would never open a Series LLC in the State of Illinois.

I can do the parade of horribles for a personally owned rental property but suffice it to say that it is a long and robust parade and the horribles are horrible.

I've learned a ton about syndications, partnerships, funding for construction, the development process and so much more about managing consultants than I will ever care to admit. 

Yes you can use commission as sourced funds for down payment on a conventional loan.However some lenders have internal overlays that don't allow it.

Quote from @Dereck Olson: Hi Nicholas,  Just a thought from the possible tenant's perspective, but filling out a prequalification form and/or providing personal information before they have even seen a place and know if they will be interested in living in the property might be a bit too much to ask. 

Personally that is what I wanted, an active mentor. 

I did a one-year personal coaching with RichDad in 2008.

Purchase price: $125,000 Cash invested: $65,000 Sale price: $250,000 Wish I could have held onto it but needed the money to fund future deals What made you interested in investing in this type of deal?

If it is a credit/equity line, you could provide a lender letter that the funds are available immediately for funding - and cured any recission period. 

FYI - not legal advice.If it's not a formal assumption and it's a straight sub-to, typically the seller remain personally liable for the debt if the investor defaults.Essentially, what can the investor do better than the seller after refinancing the property?