I also know two couples (with established credit histories) who purchased 8-units as their very first deal and had no trouble securing lending from the bank.What I've learned is to keep an open mind, never believe all doors are closed to you and if someone turns you down ask, "What would you have to see to say yes?"

Lending on a flip is MUCH riskier (from the bank's perspective) than lending on an established rental.

I'm partnering with a friend who is well established in her business.

In my scenario I would set up a business address through UPS then the LLC and establish a EIN number then a business bank account.

You would lease your lot to the QI on a long term lease and then the QI would complete construction of a structure.  

Hey everyone,I'm just getting started and haven't established a rent to own buyers list yet, but I was contacted by a person looking to sell their home within the next 4 months.

What you need to do:Create a contract for your agent to represent you and agree on the commission that you willing to pay.Have contract offers and deposit ready for your agentBe available to preview properties and to negotiate with the sellersTreat your agent well, give him cash for gas, buy lunch, stay in touch with the agent on a daily basis offer bonusesLater, if you work well with the agent, offer an equity positionTo be open to learning and using creative financing terms and clausesAware of how to establish seller financingKnowledge of Hybrid offers, delayed settlements, study periods and possession clausesI believe it is important to work with an agent who has your interest before his or a seller.A good buyer's agent can be a tremendous assets to an investor, a good agent can make you many thousands of dollars in cash flow and equity.Most agents are not trained to represent buyers, they realize that commissions come from sellers that have their property listed.

I have one more chapter in my life and I am determined to establish and acquire my lifetime dream. 

@Ramon HuertaI have not, but backing up...what are your reasons to establish an LLC in the first place?

I would establish and LLC and put it in there.