Don't get me wrong, I do trust my lender but I just wanted to bounce the idea off of some additional folks to gain perspective. 

I have an LLC in PA for my rental property and just formed an LLC in New Jersey using the same name and same EIN.  My question is do I need to have a separate bank account for my LLC in New Jersey?  If so, what is the...

Let me know if you need any additional help or would like to discuss some properties specifically.

I'll sell him the house for $305K he can get financed, plus I will carry a contract for an additional 15K. 

Yes, clean your credit, but also keep saving v Remember that your lender will want to see six months of PITI (principal, interests, taxes, and insurance) in your reserves in addition to your down payment.

So, lately I've been looking HARD at purchasing an additional property to flip, but am also very interested in finding another rental if the opportunity presents itself. 

Sellers and brokers want to see short due diligence times, substantial deposits up front and perhaps an additional deposit at conclusion of due diligence.  

These were both first position loans on paid for properties and we were using those funds for down payments on additional places.

In addition previous owners will never give up their personal attachment to the home and will make for a very difficult landlord/tenant relationship.

If I did only do 5% down or even 10% down when I purchase the home will a lender require any additional funds when I refinance or do they only look at what I owe on the home and what the appraisal value is?