When you establish relationships with the vendors you will start to compile a database full of knowledge.

He owns several highly productive properties in town and is one of the most established investors around here. 

The 100 mile rule that Chris mentions is true also so you'd need to meet both in order to use rental income to qualify however, if you have "enough," income to qualify for both homes with out "rental income," then you can avoid these pesky guidelines.Below are reminders of several sections of FHA Handbook 4000.1 that apply to the “FHA 100 mile rule” Departure Residence Rental Income: Using rental income from a property being vacated by the borrower: If rental Income is being derived from the Property being vacated by the Borrower, the Borrower must be relocating to an area more than 100 miles from the Borrower’s current Principal Residence.Multiple FHA loans: A Borrower may be eligible to obtain another FHA-insured Mortgage without being required to sell an existing Property covered by an FHA– insured Mortgage if the Borrower is: Relocating or has relocated for an employment-related reason; andEstablishing or has established a new Principal Residence in an area more than 100 miles from the Borrower’s current Principal Residence.Military Personnel / Occupancy: The Lender must obtain a copy of the Borrower’s military orders evidencing the Borrower’s Active Duty status and that the duty station is more than 100 miles from the subject property.

My main focus right now is establishing a plan to buy, fix and sell residential in my area of southeastern/cape cod Massachusetts. 

If it's in writing somewhere, it's easier to show the tenant that you aren't just picking on them and that your policy is established and applied to everyone equally.

Then once you establish your team you can start trying to flip. 

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?

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?

Before all the local investors tell me I am I have no idea what I am talking about, let's establish a couple things.

Although it's been a huge pain in the *** up til now, I think there's a lot to gain from this experience if you're able to close it!