@John Mason, lenders will look at your credit history, income and assets held to determine your eligibility for a 15% down payment conventional loan.

With this being your first fix and flip, you'll want to ask a lot of questions and truly understand what the Hard Money/Private Money loan looks like. 

Attempting to gauge participation in the member loan for the Austin 4-pack managed by RevisionMasters.

Duplex is a great first step into the REI market if you can buy one that you can put in a little TLC/renovations, you can quickly refinance in as little as 6 months and buy another property keeping it as a rental.Duplex allows you to use the other "Unit" rents to qualify for the loan or higher loan amount.Rent is a waste of money when you look at an amortization schedule and payoff based on a 5 year model your rental has (ZERO) equity and a home has money you can pull out.

This is because you can't get an FHA loan for an LLC and thus have to put down around 20% for the loan.

Then I thought I could buy the house from my dad for $300,000, which would include the money needed for the rehab instead of doing 2 separate loans.

You sit and you wait....With new construction waiting isn't as bad a renovation because your holding cost is around a 7% rate, where as a renovation you are probably on a hard money loan at 12-15%. 

It was a little frustrating because I'd been in communication with these lenders from very early on, sharing all details with them from the start and repeatedly remarking on the Trust ownership, and stayed in contact with them throughout the discovery process as I firmed up everything on my end, and now I have the plans, the contractors, the OOP funds, and basically everything else ready to get started within 1-4 months, but I'm back at square one re: loan.

Especially the ones that had adjustable portfolio loans.

If so, you'd be looking at using a different loan type for that.Assuming you're the end buyer, then the fees depend on how you and your wholesaler worked it out.