More recently I had a real lawyer handle the LLC I formed last year.

Does anyone know if this would be a good way to handle it legally?

@Siraj Ahmed Unless I am missing something, why would you want to buy this property if there is little to no upside potential (increasing income OR reducing expenses)?

Now here comes the kicker, the lender is suggesting me to reduce the HELOC limit so that i look good on the DTI.

So I ran some numbers on the basic information provided, and just like most properties I’ve come across, it appears the only way to cashflow with just 20% down is to buy at a substantially reduced price.

Based upon the information you gave, you can always aggressively pay down your debt in the next 6 months so you can qualify for a mortgage rate you can handle for 30 years.  

So how would I handle this?

A/C repairs require a license of handling the refrigerant so this mainly focused on the troubleshooting of the electrical part of the system.

If you are building a new home on a lot that previously had a home they would credit back the impact fees reducing the cost.

If you know which district/court handles evictions it will be even faster.