Rent-a-plans?

You’re definitely on the right track by planning to open separate bank accounts for each property and the holding company.

Hey Connor, Welcome to the Forums.Wishing you the best as you plan for your first rental.

I am looking for recommendations for best financing options.The owner is considering financing it, but until they agree, I am planning as if they will not do so.The local credit union I use, who is very investor friendly, is unable to lend on properties larger than 4 units right now. 

If we know where we are going it's easy to make a plan. 

The bank will put a hold on them, so you can't just draw them out, so don't plan to need them for a while.This will cost you an appraisal on both properties to be performed by that lender. 

Those are some of the unique things we offer in addition to helping each investor build a strategic investment plan & roadmap to achieve your specific goals.

HELOCs let you access equity as needed, keeping costs low unless you use the funds.Key considerations: If you plan to scale quickly, the HELOC might provide the liquidity you need for faster moves.

I love this plan and am always on board with house hacking.

Make sure to plan for the added rental income/ordinary expenses on your tax return.