If I put the house into an LLC, will I be able to use the equity (from a HELOC or equity loan) to pay off personal debt, or would that be considered taxable personal income?

So I’m understanding that in order for me to look for properties to either flip or invest, I have to be pre approved by bank?

Often sellers want a pre-qual or pre-approval prior to showing the property.

So I'm a loan officer and the only other thing I could think of is to lower your debt or have a partner go in on the deal with you.

Furthermore, the loan officer I spoke with would like to have me approved for a conventional loan with 3% down to purchase the home rather than FHA. 

I've seen stories online of people complaining how they were approved for very little line of credit.

I would like to use it for short-term rentals during times when I'm not staying there.In the process of getting pre-approval for a second house, I had one lender (Rocket/Quicken) tell me that I wouldn't be allowed to rent it out at all (not even part of the time), and would need to get an investment property loan if I intended to do that.

If you don't have the credit, I would try to partner with someone to get approved for a loan. 

I'm also happy I bought this in all cash as the anxiety of having to shell out loan payments on a property that isn't anywhere close to ready to producing an income (I'm not comfortable renting until this problem is fixed) would have put me in a very bad mental state - and now that I think of it, a bank probably wouldn't have approved a loan with this problem anyway.

As such, I couldn't get a new pre-approval letter that would allow me to make offers on the upcoming properties.With exception to deals that could go under contract without a pre-approval letter for whatever reason, I hear and read about many out there on the podcasts and forums that they're closing on multiple deals in a month or having many deals under contract.