This allows for 45% of the effective rent to be spent on all your expenses (taxes, insurance, management, common area utilities, etc. - but not your mortgage payment), and gives you the net operating income (NOI).

You can use one EIN for both entities since you're operating under the holding company LLC, or your CPA may advise obtaining a separate EIN for tax purposes.Ensure that the bank adds you as a signer using the company's EIN, not your SSN.

As it is we both have a strong desire to buy a SFH for ourselves but currently house hacking is a better solution because that other rent is paying our taxes and water and sewer bills and for some mid range priced renovations to the property.

Market rents from the appraisal and/or the actual rents need to cover the mortgage payment, property insurance, taxes and HOA (if applicable).4.

Hey Ally, focusing on debt repayment can help improve your financial foundation and reduce your overall financial burden.

So far, we've pieced along different elements of this (different tax person each year, no LLC to one to now 2 this year, haven't yet used a bookkeeper...)trying to streamline systems and have a solid foundation for our fairly new and growing real estate portfolio. 

For example, they can finance up to 70% of the ARV meaning, if you have a perfect 70% deal (purchase price and rehab are withing 70%) they will cover those cost for you.you will still incur closing cost, taxes, and insurance cost though for example.True 100% financing (ZERO out of pocket) typically requires solid relationships with private lenders or a combination of hard money lender and private lenders.

We would like to keep the operating revenue and expenses separate from our personal stuff but want to file them along with our personal tax returns.

And taxes? 

If tax returns and DTI is an issue look at private institutional lending.