The most important rule is to have the cash flow of the new property be able to pay all its expenses, mortgage, AND the line of credit back.

Knowing cap-x projected out years is not an "extra credit" kind of information, it's fundamental necessity. 

It sounds like a single family house where you will be living in the house(personal use).Therefore, you may not be getting the tax benefits you think you are.Consult an accountant.I am not sure why your sister would agree to this as well, she is losing $170,000 in this transaction and she faces the possibility of you increasing her rent.You also have to charge market rent or close to market rent or it is all deemed personal use.

The better the rates, lenders generally want to see more experience, higher credit, occupancy and DSCR requirements. 

Since the original loan was apparently for a primary residence an LLC could never qualify because it isn't a person who would owner occupy the property. 2.

Those are people who have cash/credit and will lend to you if you have a good deal locked up. 

i've managed both OOS and in-person and both can be a pain but OOS is just harder for most new investors, period.

I have from time to time spoken with the city administrator, economic developer, & a person at building planning commission.

But we dont go down the chain to see if the roofer is paying his shingles bill though /  Having Subs you can trust is paramount in this business.. cheap is not always what you waant you want subs that are making money and pay their bills and have credit..

@Jason Lopez You don’t need an LLC to rent out a house in San Antonio, TX, but it can provide liability protection by separating your personal assets from your rental property.