If a plan provides for loans, the plan may limit the amount that can be taken as a loan.

Hi All,I was looking for some advice on a potential applicant I have for a property I am renting.

Doing so allows you to write messages that are more specific and more applicable to the owner.

When you get ten or more properties, then you should have a good idea of what your limitations are and find software that meets those needs.

The book is referring to the passive activity loss limitations imposed by Sec 469.You'll still be able to use expenses to offset revenue, you just won't be able to use a tax loss on the rental to offset other taxable income if you're above $150k in AGI. 

I would not be able to carry the investment solely with my own finances (hence the partner), so it seems the bank would refuse to lend to me on that basis.Are partnership investments simply limited to commercial loans only? 

The purpose of the LLC would be to hold groups of properties to limit liabilities. 

You'll want to look at your local housing ordinances because they may have limitations on the number of non-related tenants that can occupy one household. 

(A recorded trustee's deed (or similar alternative) confirming the amount paid by the grantee to trustee may be substituted for a settlement statement if a settlement statement was not provided to the purchaser at time of sale.)The preliminary title search or report must confirm that there are no existing liens on the subject property.The sources of funds for the purchase transaction are documented (such as bank statements, personal loan documents, or a HELOC on another property).If the source of funds used to acquire the property was an unsecured loan or a loan secured by an asset other than the subject property (such as a HELOC secured by another property), the settlement statement for the refinance transaction must reflect that all cash-out proceeds be used to pay off or pay down, as applicable, the loan used to purchase the property.

But do your homework; the City of Orlando (most of what people think of as Orlando isn't inside city limits) is putting new restrictions on short-term rentals starting next month I believe.