It's going to look incredibly odd- This is why I was saying check with a lender.

I'm purchasing it through a newly created LLC, so my personal credit score is a factor. 

This is incredibly expensive and time consuming in California, for example.

I would recommend looking at various wholesalers in the area, many have incredible deals and very tight ties to the local market. 

We've got a lot of incredible resources specific to our GTA market...I recommend the podcasts "The Truth about Real Estate Investing", "Breakthrough Real Estate Investing" and "Where Should I Invest?". 

What are some creative options I should consider:Credit score: 800I have the capital to buy the property in cash if i liquidate my preferred stocks yielding around 5%.Should I consider a home equity credit line?

This is one of those questions that only you can answer.From strictly a rental property analysis standpoint, $2600/mi in potential gross income for $375k is roughly a 4% cap rate - That's not incredibly exciting, but also not terrible (it's also very market-specific...it would be great in some areas, terrible in others, and I know nothing about the Metairie LA market). 

Good Credit score, job history and no evictions on his record, however I went against my better judgement as he didnt have a rental history. 

Credit score “excellent” no debt. 

Our credit scores are 775-810, so that rules out any credit issues.