@Eli DonosoTo purchase your first investment property, set clear goals, choose the property type, and prepare for financial requirements.

It's not a sustainable model and requires a lot of attention.

I’ve seen where NC has partnered with municipalities to provide federal or state funding to bring public water/sewer to under severed areas.

Be thankful they are taking this step on their own to ensure they don't get behind and stick you with unpaid rent.I'm sure how much they may be approved for varies on a case-by-case basis, but I have tenants who have paid the full rent for multiple months through COVID rental assistance.Your role is limited, and in my personal experience requires just a bit of information on the balance due and a signature.

It pays for the water, sewer, taxes, and provides us with a small cash flow distribution each year.

Cozy's processor is required to reverse the payment. 

If something goes sideways, I would be willing to bet 90% of these single owner LLCs formed for "asset protection" would be easily accused of piercing the corporate veil, and collapses the whole thing anyways.Depending on the state you are operating in, even if you use a Wyoming formed LLC, you will likely be required to register in the state you are operating in, which may require disclosure of that information you don't want to give up already - check to see what those states require for disclosures when registering a "foreign" LLC that is operating in the state.Literally no federal income tax benefits to where your LLC is registered. 

I'm in the position to apply(depending on lender DTI requirement) for conventional financing through the builder at <6% interest rate in this current market.

Today (at least in WA state) every law you can think of has been written against you, and you'd better know them or you'll be in hot water fast. 

If the HOA required you to obtain their approval, did you hire an attorney?