Gave me the monthly payment and I checked it against a mortgage calculator and it's exactly what that said. 

The only purpose of the account would be to collect payments and pay bills like taxes and insurance on assets held by the LLC.

As already mentioned, you could sell via seller financing to lower AGI, as all you would have to claim is the payment income - until balloon payment received.Did know an investor that had 14 properties paid off and he moved into one every two years to then sell with the $250k single exemption.

Ability to repay - can you as the borrower afford the payments based on the loan amount.Typically they will not take into consideration the mortgage on a new property that has not been taken out as that is new.

In this type of situation, they want low interest rate with low down payment also.

If you have extra cash at the end of the month, then do double up payments on the mortgages so the principle is reduced and this will increase your heloc room.

It can take 2-3 months before payments get approved. 

Trust invests the cash to make the payments on the installment sale to the seller.

I’m close to saving up for a down payment but it’s taking forever!

If borrowing, use a non-recourse loan since personal guarantees aren't allowed.