Our plan is to purchase again with a better mindset of turning that into a profitable rental.We have diligently completed all the necessary steps and are on the verge of signing a management agreement with a property manager.However, we are experiencing some doubts.  1.

That just tells me they never started or completed any collections process AND I know they can't put a lien on someone's property in which the owner had no involvement and wasn't even on the signed work contract.

It didnt affect the loan because of the divorce decree, but it completely wrecked the borrower's credit score - dropped it 130 points from high 700s to mid 600s- because the mortgage still reports on his credit report and was showing as a mortgage late. 

I'll be completing a book (later this month) titled Turnkey Real Estate Investing.

I am a professional cabinet maker and my father is a master plumber.Estimated sale price once complete $500k+Home 2: 210k mortgage. 5 bed, 3 bath redesigned to 5 bed, 4 bath, 3,000 sq ft.

For example, I started investing in Buffalo (NY) a few years ago because I liked the stable population statistic along with the fact that a big chunk of the population is in the healthcare industry... along with major car manufacturers having plants or some sort of manufacturing factory there (Tesla, GM, etc.) 

It sounds like you’ve been doing some serious groundwork with all the reading and research, which is such a strong start to your journey toward FI and retiring by 55.It’s awesome that you’re exploring real estate as an option, even if you’re not completely sold on being a landlord yet.

So far besides a few books and a burning desire I am a complete novice to this.

@Sang Kim- thanks for clarifying you are trying to get a commercial loan ...this is a  completely different product than a home loan ...You still should be able to  locate and obtain a good commercial loan  without  having to pay any fees upfront  ( other than possibly paying for the appraisal after the  loan has been  approved )

Here is an example with some figures:My LLC total investment = $204,000Partner LLC total investment = $196,000Value of project when complete = $500,000Each LLC value afterwards = $255,000 / $249,000The plan was for me personally to go get the refinance loan because the terms are so much stronger than if I went portfolio with the LLC.Loan total = $300,000 (keeping at 60% or under of value for best terms from the bank)Partner LLC payout = $249,000My LLC payout = $51,000In this scenario, I am struggling to see how to get the remaining equity in the project into my personal name?