With FirstKey and if a property in this purchase method were that of an LLC, wonder how the income exclusively from the property would carry both the new loan and the LOC amounts total.

Business losses can be carried back 2 years and forward 20 year for tax purposes.

As the project goes along we will provide consistent updates as to the specifics of the work being carried out according to the scope of work.  

My plan would be to rent it until it was paid off and then sell/ carry a note. 

Gurus can often get a bit carried away with the numbers, and what makes 'sense', blah blah blah.Own your own home.

Upside is I can put 10% down on a property which will be delivered in 2-3 years and sell it without carry a loan or managing a tenant . 

We have had tenants in this category who either were in place when we purchased a property, or moved in with an existing tenant and later had to carry the cost on their own.

The monthly rent would be enough to cover the mortgage and carry some cash flow to boot but if there is just one month that the house is vacant due to turnover, I lose 4 months of said cash flow. 

Figure on having six months to one year's worth of carrying costs (mortgage, taxes, insurance, utilities, etc...) set aside in addition to your down payment and any rehab money you need. 

I will guarantee that many successful investors do not carry heavy loads of personal debt such as CC and car loans, it doesn't make sense.