I am not giving legal or tax advise but from what I understand LLC are not recognized in Canada and will be treated like a C Corp.  

@Dave Hagen“Also a reminder to all investors with multiple LLCs, or even a single LLC.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

I saw an offer like this one recently with a Navy Federal bank statement that "had $700K" in the bank and it seemed legit.. but the LLC wasn't active with the state and they had assignment of contract language all over it.

Establishing Your Business StructureSetting up an LLC or S-Corp is the first essential step, as you’ve mentioned.

Under the Corporate Transparency Act, LLC's are required to file a Beneficial Ownership Information (BOI) Report. 

Do you have the professionals you need to start an LLC, do the proper real estate/tax accounting, solid contractors to rehab or prepare the property, and a property manager to handle the day-to-day operations? 

Without complete financials up to that point, extra work (and headache) will be required to get everything straight after years of failure to keep complete financials.There also might be an asset protection wrinkle by not maintaining complete books for an LLC, but I won't comment on that as I'm not an attorney.

@Dustin Seager if you are buying with hard money, then you will have to put it in an LLC.

Assumption by an EntityUnfortunately, assuming a VA loan directly through a legal entity (such as an LLC, corporation, or trust) is typically not allowed because:Primary Residence Requirement: VA loans are designed for owner-occupied properties, meaning the assuming borrower must intend to live in the property as their primary residence.Credit Review: The VA and lender require the assuming party to undergo a personal credit and income review to ensure repayment ability, which entities cannot satisfy.3.