What I find helpful is pre-underwriting the file upfront in terms of reviewing credit, income and sources of funds needed for down payment / closing and reserves on a TBD property.  

This decision is too important to trust an online calculator; making a tax forecast is not rocket science on this but the gut punch because your basis is so low is understandable.    

We have $60k set aside for a new home down payment.

I have purchased 32 SFR since 2015 thru the end of 2017 using this method and regarding down payment see # 22.)

Mortgage payment is 867 but I pay 1k a month on that and 500 on utilities so my total burden is 2100 with tax during the seven months it’s a vacation rental it does 3-4k which means that I’m breaking even year round as it is. 

I showed them the whole business model and spreadsheet...We ordered the Feasibility study and appraisalThen they gave me a Term Letter that states everything even construction cost analysis by their 3rd partyThats where we are atwe have a GAP of $2.7MWe came up with the strategy last night.. that at the very least we need $1.5M cash to pay a balloon payment by June 27 or it forecloses... the lord will not let that happen.So I have the green light from the Lord to talk to all the interested investors as He is opening up the doors of Favor

People trust what they know.

I also have a trust that I'd like to put the LLC under.Any advice on which llc to choose? 

FHA Loans:FHA loans are a popular choice for house hacking because they require a lower down payment (as low as 3.5%) and more flexible credit requirements.

Internet is a bad place to try to find out about license requirements and trust them..