Here there is a pretty strong demand for renting by the room which can be more profitable than a traditional lease however more work as well. 

Seems like this could be an easy way to have multiple accounts open but keep things simple/straightforward compared to a traditional bank.

If you're wondering about this you should probably talk to a more traditional lender before moving forward to ensure you are able to qualify for a traditional mortgage on it.

In this event, I'd structure the deal much more like a traditional lender with a fully amortized long term loan in place.

We took a traditional loan to fund 80% of acquisition, put 20% of our own money and raised private money to fund the rehab.

Poor screening often results in lost rents, legal & court costs and costly damages.Screening of applicants includes the following:Full credit/eviction/criminal checks are done, instead of score-driven reportsVerification of rental history includes validation of actual property owner to avoid fraudVerification of stability of income & employment via YTD paystubs & W-2(s) (analyzed to confirm not fakes)Income is calculated 3 ways to spot stability anomalies: pay period, YTD average and YTD + W-2 average.Debt-to-income analysis (more accurate than traditional 3x rent requirement)Bank statement to see if NSF issues, if deposits support income, prove MoveIn Funds, also analyzed for unusual transactions.Pet screeningHolding Fee required from approved applicants to make sure they are serious, before a property is marked pending.

Both the series LLC and DST will allow you to create unlimited child series underneath the parent entity so they will scale with you as you grow your business and eliminate the need for multiple traditional LLCs which would require multiple filings, fees, etc so would be costly and time consuming.

A traditional rate for this area is more like 3-5% but honestly since our inventory has been so low for over a decade now the appreciation has been more like 5-10%.  

Now that it has been rented and rehabbed, I am refinancing the property with a traditional bank to hold long term.

Adaptive reuse of other asset classes to traditional multi-family seems to becoming more popular in Jackson and the surrounding areas as well.