If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

Pass it along to your business partner! 

Check whether the area has any max unrelated person ordinances.

Quote from @Aaron Hartman: I am a small business owner who has been involved with multiple syndicates in the past.

I would personally do the later, keep the interest rate, and start your rental portfolio.   

That is the only person/s that can sell you the property.

Is this possible even without already having an established business? 

Evaluate the lender's reputation and experience: Choose lenders with a proven track record who have been in business for a while and have reviews/testimonials you can talk to if you like3.

It's not my personal favorite and I don't focus in 38127 for my own investing but I know the area and have helped my clients acquire some deals here and they seem to love the zip code!

I registered in Wyoming as many do but just ran across information saying that in order to “conduct business” in NY in having LLC owned rental property, I must now register as a foreign LLC with NY.