I would rather work with someone who is willing to offer FMV or at least close to it with the understanding to the Seller that the discount is in the convenience. 

Lot of readers on here that want to buy houses with nothing down or close to it.

I don't believe me or my wife's income will be able to cover a full 80-90% LTV line of that amount but I want to be able to get a line as close as possible.Is there currently an institution that is recommended or any that should be avoided?

No LLC Needed: This keeps things simpler and avoids the state income tax associated with forming an LLC in Tennessee.Steps to Set Up Tenancy in Common:Purchase the Property: When you buy the property, instruct the closing agent or attorney to list both of you on the deed as tenants in common.Draft an Agreement: While it’s not legally required, it’s smart to have a written agreement detailing each partner’s responsibilities, the split of profits, and how decisions will be made.

Negotiated a small price decrease due to it being on the market for 60+days and also had seller pay 3% closing costs.

You would think properties like those would be snatched up before they made it on a site like that if those numbers were even close to being accurate.

It was difficult managing all the stakeholders (from closing the deal to fixing the property to renting it).

It was stated to me that a property owner gets paid in full at closing.

. - Closing costs.

You will also have closing costs.