HiI recently joined Pro community.

I look forward to getting my feet wet in the real estate world and joining the community!  

Hello,  I am very new to the community and to Real Estate Investing. 

That could be something else to consider He did pay the application fee and his credit is 791 with no late payments on record and no criminal background which is good.

And if so, what is the cost and prospect for collecting something, certainly not all, but something.My thinking is that if it shows up on their credit, it may hamper employment, car purchases, rental applications, education funding, etc and at some point they would need to pay me to go forward with some major life steps over the next 10 years.

A disregarded LLC is a single-member LLC (or husband/wife LLC in a community property state) that elects to be taxed as a sole proprietor. 

I would also take into serious consideration that FLA is not a community property state (according to my research)....

I was wondering if this was true/ if there is a lender that will accept Community second/DPA for the HomeStyle loan . 

For the front end ratio I use: Gross Monthly Income >= 3 x RentFor the back end ratio I use:  Rent + Monthly Debt Payments <= 45% x Gross Monthly IncomeIn this way, debt is considered in a consistent way in determining if the applicant can afford the rental.

I am paying for a couple of extra LLCs but again, anyone can set those up for $125 and the time it takes to fill out the online application.