Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Avoid third-party hand-offs.  

It is unlikely that you will be able to keep your existing interest rates or avoid paying the backpay amount.

So I figured getting people who are more knowledgeable about the process should help avoid those issues.  

You can use one EIN for both entities since you're operating under the holding company LLC, or your CPA may advise obtaining a separate EIN for tax purposes.Ensure that the bank adds you as a signer using the company's EIN, not your SSN.

As it is we both have a strong desire to buy a SFH for ourselves but currently house hacking is a better solution because that other rent is paying our taxes and water and sewer bills and for some mid range priced renovations to the property.

Market rents from the appraisal and/or the actual rents need to cover the mortgage payment, property insurance, taxes and HOA (if applicable).4.

We would like to keep the operating revenue and expenses separate from our personal stuff but want to file them along with our personal tax returns.

So far, we've pieced along different elements of this (different tax person each year, no LLC to one to now 2 this year, haven't yet used a bookkeeper...)trying to streamline systems and have a solid foundation for our fairly new and growing real estate portfolio. 

I think it should definitely be done prior to the tenant moving in though to avoid a potentially problematic situation.