Long term tenants & consistent income Lessons learned?

Is there a way for me to get a loan for him so that it’s a low down payment but using my income/credit to qualify?

For pre screening are you simply looking at income, debts, employment etc? 

DSCR loans do have slightly higher rates than conventional loans, but its not because of the LLC, its because of how they qualify the client (not using personal income). 

Then they admit they don't own any rentals or income producing assets.

If the LLC is an operating business..... lets say providing roofing services with annual revenues that are consistent or even better increase year after year for 10 years, lines of credit or other lending options might be available that aren't available for a new business. 

Hope this helps to understand how a lender looks at a rental property's income to be a self sufficient asset.

You can do a 1031 exchange if the property has corporate ownership and the corporation has filed or will file a US Income Tax return.

I made money via appreciation (and ultimately did well), but the rental income was, at best, treading water.If you’re up for the management challenge, buy right, and have a longer term horizon, I think you can do OK but it may be worthwhile to wait for the market to cool down a bit.

They’re currently paying way below market rent and are on a fixed income(social security).