Is there any way I can make use of this to put down as down payment? 

Buying under an LLC shifts the type of loans you would be eligible for, and likely rules you out of considering a house hack or using an FHA/VA loan, but opens up different funding options if you have the capital for a larger down payment.

If this is a conventional loan then all documents pertaining to income,current mortgage and insurance, etc. if it is a DSCR refi you will need much less. 12 months of payment history, 12 months of rental income, insurance, bank statements and whatever else the lender may require. 

You all sign a contract and agree on scope, fee amounts and WHEN payment is due and abide by the agreement. 

However, a challenging situation has arisen: the previous owner's son, who lost the house to the bank, is currently occupying it.I've attempted various methods to facilitate a smooth transition, including offering cash for keys and assistance with moving expenses.

@Chad Herring If you are lending under $100k, I am assuming it is just for the renovation funds, or for the down payment.….meaning it is likely that some Other lender has lent money for the purchase and possibly the renovation costs.

I have found a lender who will do a portfolio loan, partial release and no pre-payment penalty for both properties.

Terrible customer service and withholding payments for service.

While this is the correct text book method of doing it, these days seller's are pricing their properties as though all units are at market rent.

One property is a condo (in CA) that I rent out, and the other property is a house (in NV) that I live in and rent out the other rooms.I quit my W2 job last year to start a business, which is slightly profitable today, but I reinvest everything back into the business.I have a bunch of cash saved up and am comfortable deploying $100K into another property in Las Vegas ($80K down payment + $10K furnishing + $10K margin).The only problem is that I’m not sure how to finance my next house without W2 income.I talked to a few lenders about DSCR loans, and most say they calculate rental income based on the entire house, instead of by the room.I would love to get the creative knowledge of the BP community on how to fund my next home 🙏🏼I'm also open to any lender referrals 😊