My question is can I set up a new LLC and still secure a commercial loan or does the LLC have to already have a proven track record and established credit history?

Hey all-My partner and I manage a duplex right now in Cleveland and are looking to expand our business venture with about 5-7 properties within the next 12months and a 15+ unit commercial building the following year.For the most part, we have been "landlords" so we are looking to establish the right team to become more efficient and more profitable with our investments.

The lenders are a 75-80% partner in the deal; so, it's just part of finding a good fit for both sides and establishing a business relationship.

It won't be hard for your father to get business line of credit on his name because of established business. 

In the event a lease could not be presented we asked for same proof of payment to establish rent amount if that was disputed.

For example, a builder will construct a retail establishment for an owner, and the builder will receive a percentage of the gross receipts for a specific period of time.

I already consulted with them and they can help, but this certainly wouldn't help establishing good relationships with this neighbor. 

That level of comfort came from establishing a great team to protect my investment.

@Huy Thai, in my state once the tax basis is established for the year, it seems to apply for that year unchanged.

I  try to establish good repore with my tenants who know that my inspections, which are sometimes more of a greeting "Are there any problems with the rentals I should know about etc.