I bought it for $138,000 with a rehab credit of $57,000 so I closed on it for $195,000.

🫣This doesn’t answer your question directly, but the whole concept is very close to the old time “rooming house”.  

Just be sure to be prepared to get legal advice if you run into grey areas that you are not well versed in to avoid legal implications.

In response to your original question, closing agents should handle private loans just like a bank loan. 

In our situation, would that seasoning period begin when we closed on the land in fall 2024?

Quote from @Allison Cutlip: My boyfriend and I are closing on our first property soon which is a duplex where we will be living in one side and renting out the other. 

Great guy who understands taxes and is always close. 

I have a few questions- "We started an LLC" "We purchased a property" Who are the legal owners of the LLC? 

I'm looking to get a 3 unit multi family home in or close to Boston MA. my question is is it realistic with a income of 75k-100k to be able to get a 800k loan?

As you are partnering with your sister, have a legal document drawn up as to what happens if one of you wants to sell and the other doesn't, how expenses will be split along with money you are putting down, borrowing, profits, etc.