After reviewing his unit that was listed by another company that had sat for 3 months I tried to schedule a showing.The automated email bounced back as not working and two separate phone numbers lead to a recording that said to leave a VM and they would call us back.After that I read the description on their unit and it instructed me to go watch a video of the unit on YouTube and apply through their website sight unseen.I am all for automation and leveraging technology but… this business requires professionals as well.

I have used a HELOC from our home to purchase 2 separate long term rentals (two different times).

Separately, I'm based in NJ looking to start with MFHs and college student rentals in the area.

I know that buying a home is a business decision, but when you do it with someone you are in a relationship with it also becomes an emotional one. 

Communication and directness are helpful in easing emotions.

This house has given us great momentum that we want to keep going and some emotional attachment - so we're uncertain on the best approach with this property that is currently making 9% C/C and has continued to appreciate.

That means your going to have more collateral for the seller to feel comfortable having a separate silent deal.

I'll be reaching out to them today but also wanted to make a separate post seeking recommendations.Thanks for reading!

If you don't want to keep separate LLC's and will be doing deals together then just form one with both of you owning 50/50 shares.7. 

As for the tax side of the question, your CPA can guide you on the tax benefits and risks before you start the Series LLC, but they should be very involved in your record keeping during the year to make sure you maintain separate records of the Series LLC while they are in operation (read the Texas Series LLC statute regarding record keeping required to maintain separate Series status).