Any recommendations or suggestions from seasoned investors who have been through a downturn or two is appreciated!  

Not to derail the post but you don't need to season the company - it is more a question of if the operators are competent and experienced.

To dismiss (and dis with the big Mac reference-that was rich) a seasoned investor like Curtis who contributed to Your thread, citing undercurrents of favorable market dynamics is arrogant and unnecessary. 

Or do they just have to find a bank who will do it without the seasoning period?

While my husband and I are well qualified on our own given this is our second investment, the couple that we're partnering with is more seasoned and they own more properties than we do (debt to income ratio comes to mind as a potential issue for them).

The property in its current condition is a C in a B neighborhood.The price is $195,000 and I have 25% down.Where this is my first property I want constructive criticisms and analyses from more seasoned investors.

Other components of your W2 pay like bonus/commissions/overtime/car reimbursements generally need 2 + years to use to qualify so if you have these components of your W2 pay you may have to wait for awhile for it to season to be able to use it.

Drew, as a starting point you might start with notes seasoned for at least 3 months and not more than say 3 years ago.

Alvin Holmes Just my 2 cents but you most likely won't find a competent CPA wasting time during tax season working in turbotax to property report a 1031.

The only issue I see with having an LLC for all of your properties is if for some reason you were to get sued as the LLC then all of your assets (properties) held within that LLC can be liable.I'm curious to hear how some of you seasoned investors with real experience operate.