Most challenging piece is finding the owner or finding properties that are owned by individuals than companies.

You could also reach out to specific individuals you are interested in working with and let them know you have a deal you are looking to partner up on.

If each property is owner by individual llc's, then each one would need their own accounts.

Then I would be paying a similar price per month to what I am renting my apartment for now: $700.I think the only way I can make a property cash flow after I move out is by renting individual rooms.

An LLC can not get a conventional loan, only an individual can.

The LLP protects the members from each other, but they may still be individually liable (this is actually state specific.

I am zeroing in on potential markets based on my individual financial requirements, and I will be closing on my first property before September 1, 2021. 

Giving that up for an unknown seems more risky to me...Option 5 – You would need to be able to parcel the units out individually and your traditional lender may have an issue with this.Option 6 – Would $75k in profit fully pay off at least one of your first position notes?

If they are both living there and both over 18 they both should be named tenants unless there is some extenuating circumstances you are not sharing, so both should fill out an app and both should provide proof of their individual income.  

I recently came across a Twitter post in which the individual was looking to purchase a home in Florida in the present market in anticipation of moving there several years down the road and thinking the local FL market being even higher at that time.