@Rob WallaceCredit unions typically do not lend to LLC’s I will focus on another topic - I strongly recommend your operating agreement have terms preset if things personally go bad and one has to buy the other out.

I personally have closed on a handful of properties with owner carried financing and have negotiated terms for several million in private notes for clients.

Biggerpockets community is so friendly and a great resource for new and experienced investors alike. 

I personally think the detailing MAY be a great idea, IF the location of the car wash is on a highly traveled street in a neighborhood with lots of residences within a 2 mile radius. 

Might want to consider being a passive investor on a Self Storage deal to see what kind of numbers and gain some first hand insight on how experienced investors are adding value to facilities. 

These are advantageous as they look mostly at the asset's for the loan not necessarily your personal statements as much as conventional loans. 

Hi Nahon, I personally love Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here.

I can see why the landlord wants to use their person . . . they probably want to make sure its a quality repair. 

You will need 20-25% down and a commercial loan for the rest.Most lenders will want to lend to an LLC with you personally guaranteeing the loan.Typically, each MFR would be purchased under its own LLC, for liability purposes.Each LLC would then also need its own bank accounts for collecting rents and paying expenses.

I have personally never heard of the county having any say .. other than I do get calls from (state of Colorado) Tax collector after I purchase something and they want to know why we paid less than market value.. but they contact after the fact..