A plan is to work with a real estate agent, use FHA or conventional loans, and hire a property manager for residency.Good luck!

20% down conventional mortgage What was the outcome?

Plan your house hack by running cash flow estimates, checking rental regulations, and planning for FHA or Conventional loans.

I'm guessing you've been exploring conventional financing which is why you're finding a cash out refi difficult with the property being in an LLC.

Many will disagree with me on this, but I have personally originated several loans underwritten with Fannie Mae for conventional financing and accomplished the financing when there are 4 leases for a 4 bedroom SFR. 

Also, Conventional investment loans are better deals 99% of the time.

Hi Jason, For conventional loans concerning rental properties reported on your PERSONAL tax returns, underwriters will calculate your net rental income based on your Schedule E from your most recent tax return (using Fannie Mae form 1038), depreciation and depletion can be added back in to offset the expenses of the property.  

If a loan via a bank requires the terms to be conventional (5% down), FHA (3.5% down), etc.

You can speak to the lenders you are talking with about their debt to income etc. if you are getting conventional loan they will take that into consideration, if you go with a DSCR loan they look more at the metrics and financials of the property.

You can look at individual loans (conventional or DSCR) or as a portfolio.