I personally wouldn't buy an old home as a rental, I only buy 1980 or newer for myself, all of my properties are in the north part of Gilbert built between 1985-2003.

It’s usually best to open a separate business checking account so your rental income and expenses stay organized and away from personal funds.

I had hoped to set this up with PNC since I bank with them but an in-person visit to the branch is required for set up and this is not possible since I now live in Washington state.

I typically don't comment on other's businesses unless I know from personal experience.

It sounds like this is their personal residence.

Ideally you would put only one persons name on the mortgage unless you absolutely had to have both to qualify.  

But it sounds like you should also balance your decision on what fits you and your families preference and style since you will be using it personally. 2.

Depending on your loan it might only work in the STR game.HOA’s normally do not allow in the Oceanside area but if you get on the beach then they do with restrictions.If you want a personal consult let me know.I have a team here in Oceanside, Carlsbad.

Lots of loan options can close in an LLC, helocs usually need to close in your personal name.

Quote from @John Friendas: As a person with an average salary, I was wondering what the maximum amount of DSCR loans a lender would give out would look like?