@Paul DeSilva:@John Leavelle and @Anthony Gayden (above) are both correct.Unless you have more than 10 residential mortgages, or the properties are above the jumbo mortgage limits or you're trying to finance the the properties with the LLC intact, then they should qualify for conventional residential FNMA loans.For the LLC situation: my strategy is to close the loan under my personal name (no LLC), then after a few months of "seasoning" to establish on-time payment, notify the lender that I plan to drop the property into an LLC strictly for asset protection purposes.Many seasoned pros will tell you that you don't even have to notify the lender that you plan to do so, but will warn that doing so runs the ever-so-slight risk that they may actually call the entire loan due immediately.

Landlord-tenant laws and construction laws are a must to check when moving over state lines of course.Let me know what you guys think!

@Kim Herrick Laws vary by state, but in Texas, you would have every right to either delay closing in order to give the seller time to remove the tenants or to walk away from the deal and get your EMD back. 

(keep in mind the $116k is all net...so after you allot for all expenses and portion for cash reserves, etc...this is strictly profit)If you take a salary, then, breaking each property's profit up individually, would you take a percentage across the board or a flat dollar amount per strategy?

It's legal for regular business, but I have a feeling it is violating some type of antidiscrimination laws for HUD with respect to renting.

We're researching the various landlord/tenant laws in different states and will consider this concept as we move forward.

I've read that the new tax law eliminates HELOC interest deduction, even if the debt is primary residence debt (not for 2nd house, new car, etc.) 

There are strict rules on what you can/cannot do.Our smaller properties...we bought them even after we had large properties.

I suggest taking the time to read all the course suggested reading (chapters from textbook and sections of law) before going through the slides for that unit.

If you don't property manage yourself, you might need to increase the strictness of your tenant screening.That is what I have in mind.