My thought process is to purchase the property initially under my name so that we can pay 5% down as my understanding is that mortgages to LLCs are more difficult to find, have higher interest rates, and require a higher down payment (around 25%).

ConsMore complex setup - lawyers and regulations can be a mazeLess flexibility - the structure is more set in stoneHigher costs - gotta pay fees to keep things running smoothlyMy Take:Sounds like syndication might be a better fit.

They suggested that I take the steps towards acquiring my first primary residence now because it could pay off in the near future.

One way to handle this is to stay in the house while it is vacant, or pay a friend to house sit until you find a tenant.

I like military bases to be near by and look at what the gov’t pays for rents, which is how I set my goals for my monthly payment on the houses I buy.

Test and refine your communication plan—it pays off!

That does not mean that pay stubs and tax returns are the only way to prove ATR fir example bank statement loans for the self employed is a method to verify ATR. 

My client intends to pay off the principal, interest, fees... all at the close of escrow.

So, they will be paying that. e) How are you claiming deception when they have clearly they deceived you?

My original plan was to update and flip it , pay off the heloc and use the profits toward buying my first rental.