This is my second building and I definitely do not put unnecessary money into a situation that does not pay dividends...

I didn't set one up until I had 8 properties as my attorney recommended around 10 to start considering one though you situation may be different from mine. 

I originally came here to be a vacuum of information, now I find myself in a situation where I am over my head.

Also I was just foreseeing of a situation.

You will still need liability and umbrella insurance.For me, after analyzing my situation, I decided to go with one LLC per property with a holding LLC and a property management C corp.

I am in a similar situation in Philadelphia.Thanks!

You could partner with a more experienced real estate investor and see if they can come up with more unique ideas for your particular situation.

Do you have other applicants which you will approve, that's the best way to get out of this situation with this nasty applicant.

@Jason DiClemente thanks for that tip, I guess I didn't even think of that and would probably have just assumed a refi would be just as hard to come by because of the same reason lenders are balking a bit now but your saying the game changes a bit when you show 2+ years of income even if its a strange situation like this 2 homes on 1 deed deal?

Their expertise minimizes your risk of a bad situation, and your choice of project will be less of a shot in the dark.