Investing in a property that’s already renovated, rented, and professionally managed could allow you to start generating passive income immediately without the added expenses of house hacking.What’s most important for you in this first deal—cash flow, appreciation, or long-term stability?

When they realized that it was held in an LLC they denied my application.

Attitude and professionalism are paramount; product knowledge next, and then there's your contact/follow-up systems.Put that together, price-test against the market, and you'll have a sustainable, constantly expanding, and very profitable venture.Good luck! 

Readers should seek professional advice.

In the long run, I want to build a portfolio that will bring in cash flow.Would be great to connect with all types of professionals who work in the area.

I currently have mine managed professionally.

Do you do background/credit score checks on all applicants and have minimums? 

I'm Pratik Patel, a healthcare professional excited to join the BiggerPockets community.

Most professionals will recommend a separate LLC for every $1 million in assets but I don't think that's necessary.

It sounds like you’re handling things well by setting up systems early.For this tenant, a calm and professional response is best to maintain a good relationship while reinforcing your policies.