Hello BP - I am planning to open an Operating, a Security Deposit and a Cap Ex/Reserve business bank accounts to manage my first multifamily rental.

Im going into my last semester for an associates degree in Security Technology.

A loan greater than the property value can be risky, if nothing goes wrong everything is fine.If the money is going through a title company (a good idea) the money will be distributed to the owner of the security property, likely the LLC in this case.The borrower/property owner should be LLC to avoid being a consumer loan.

@Rick Willson  I would go prepared with the following:last two years tax returns with all scheduleslast two years W2slast 2 months bank statements to show reserveslast 30 days of pay stubscurrent leases for each propertyif any rental properties were acquired this year and not listed on your schedule E yet, proof of receipt of rent or security depositmortgage statement, tax bills, proof of insurance, HOA statements for any other properties, including your primary residence There's no need to look "bigger than you are." 

If so can your refer me so your closings attorney or attorneys you use to secure these kind  of transactions thanks in advance :)

If so can your refer me so your closings attorney or attorneys you use to secure these kind  of transactions thanks in advance :)

Increasing the bottom line is a priority, of course, but I wanted to balance that with the security of having tenants (only 2 of 5 units were occupied when I signed the purchase contracts). 

I have a buyer that would like to buy it Subject To so that he feels secures as he starts making improvements.

I've been doing real estate for about 1 year now. I have 1 rental that I have fixed up and is now cash flowing nicely. It's going to take a long time to save up for another one and I'm looking to scale much faster. I ...

If you secure additional financing it gets more complicated and you will have to pay taxes on the additional finance part.