But when I have an appraiser come back with comps from a year ago from when I purchased the building and then they refuse to recalculate based off of recent comps, I'm not going to be interested in working with that person again.

Is it recommended to have a separate checking account for this or we can get it transferred to our personal checking account?  

Typically we are using your personal credit score and you give a personal guarantee on behalf of your LLC.

Usually you can avoid personal guarantees by having your IRAs membership interest at 19% or less in that LLC.

The person who lived in the house was a family friend and we had heard they were getting ready to sell the property.

Given these factors, should I consider renting to this person? 

Just above $100k..with personal usages and not optimally managed for the moment..

AND it works other wise they would not keep doing it.so A true private lender is someone you personally know or have met who has money in their IRA or other cash but lending is not their business they just make a few loans a year to those close to them. 

As a result, in a public search, the governor name would be me.If I set up a Wyoming LLC and modify the Operating agreement to have my WA LLC to be 100% owned by my Wyoming LLC, I assume I would still have to list a natural person as the governor of the WA LLC, and my name would still show up there.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.