As a partner in the LLC, you and your wife will receive a K-1 form from the partnership, detailing your share of the income, deductions, credits, etc., for the tax year.

Before my lease started the management company offered me a $0 security deposit due to my credit score but I had to go through 3rd party company who offered it and pay them like $50 to opt out which I did.

Run their credit like you would for anyone else. 

What's the going rate for 30 year fixed DSCR (loan amount approx $150k)  Good credit and enough experience investing. 

This ruling will basically bring those 2.0% listings up to 2.5% co-op the difference will be paid by lender/seller credits, etc..

If it does, you can apply to assume the loan on your own credit, income and debt ratio.

Anything more than that can be done "commercially" either through a local bank/credit union or a DSCR type of loan. 

Run Background / Credit checks3.

Wow Henry, I love that approach.I am just about to get my son on my credit card to start building him a credit score, but the idea of sending your sons to buy stuff and letting them learn life lessons is inspiring! 

Here are some considerations:Pros of Using a Hard Money Lender:Speed: Compared to standard lenders, hard money lenders can provide quicker approval and financing processes, which lets you take advantage of time-sensitive possibilities.Flexibility: It may be simpler to obtain financing if HMLs are more accommodating when it comes to credit history and property condition standards.Access to Funds: You may take advantage of more investment opportunities by having quicker access to the equity in your property.Experience: For first-time investors in particular, certain hard money lenders offer invaluable experience and advice that can be helpful in navigating the fix and flip process.Cons of Using a Hard Money Lender:Greater Costs: Hard money loans might have interest rates and other costs that are greater than those associated with standard financing sources, which raises the project's total cost.Term Length: HMLs normally provide loan durations that are shorter, usually lasting between six months and a few years.