Typically, banks offer a higher interest rate to LLC than Individuals so you can see why this might cause a problem.If you move forward, then you would just update create an entry to put the value of building/land in asset and note payable in liability.

Just as individual property expenses vary from one to another.Try to connect with other investors in your area.  

She is still living in the property and paying rent but they're both showing interest in signing a new contract to live at the property individually.

The house is manufactured, my lender thinks she may be able to finance them, which would alleviate all of this and would be my preference.  

I am looking to do the "house hacking" thing, so preferably the more units the better, but, at this point, I'm not too picky. 

A few of us are interested in buying land in New Orleans/Kenner, prefer utilities in order to install double wide manufactured homes.

Everyone's situation is different so it really depends on an individuals situation.RE depreciation: Under recent tax changes ALMOST everything is deductible in the year its paid.

With a degree in applied mathematics the numbers don’t scare me and I know one day I can get out of the banking industry IT world.At this point I am looking for my first rehab property to fix and flip on the east side and to network with individuals and mentors.

If it's just a matter of encapsulating what is there, and all the contractor is going to do is peel and stick a product on top of it, I would definitely prefer to do that myself and pick my own version of the wood product.  

You'd probably want to get with a lender and ask them how they'd prefer you structure the seller finance deal before you bring the refi to them.