Having said that, the federal government put a restriction on buying houses if you don't live here. 

Hector, first of all congrats on the big step.

do you have a lender lined up to refinance?

You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.

The biggest challenge for being a great realtor is always generating leads and staying organized.

Unless you're financially prepared to deal with these issues and accept that 'once you know, you must always disclose' defects, I would move on to finding what is truly a good deal - as a good deal is only as good as its bones.  

They currently have under $1M in leverage on the assets but are looking to get a line of credit / portfolio loan to encumber these properties or other properties they acquire.

If you buy a high cash flow property in Cleveland, over 5-10 years you will most likely break even on the cash flow or just be treading water.

Are you open to taking a loan out on the home you bought with cash?

We found this home through a combination of online tools and personal exploration in the area.