Finally made the jump and just bought our first vacation rental.My longtime girlfriend and I emptied out the account and put 60k down on an amazing 300k vacation rental near Bass Lake and Yosemite National Park.By conservative estimates, it should cash flow over $1,000 a month after ALL expenses.As I am still learning on the fly here, I am most interested in the next steps in acquiring the next property (and the next, and the next).The house should appreciate some throughout the year, and it is nearly turnkey as it was wonderfully taken care of by a family for 40 years, so we won't be adding too much value with remodeling.My main question to the BP community is "What's the best options to finance our next purchase of a rental property?".

If it was a $1800 piece of equipment, I may be more careful, but what good Is a tool I don't have access to when I need it? 

You can get 30 yr fixed in residential mortgages and like @Scott England said, those need to be closed in the name of an individual....or a Trust with an individual as the beneficiary.

As far as I know, no one will know or care what account the certified check or wire comes from.

Take care. 

Rhett Z Begley 1) Speak with an attorney regarding entity formation and asset protection. 2) Once you have that figured out, open a separate bank account. 3) Be very careful not to co-mingle personal and business funds. 4) Keep great books and records.

I would definitely recommend house hacking because of the advantages of an FHA loan but "deals" are definitely trickier to find in the LA area because of the demand and a large number of investors in LA.

What we do look at is how much rent we can get each month, how much of an option for the property we think we can get, how much money will be left in the property after we get a loan on it, how much cash flow we will get each month, and how much of a profit we will make when the tenant exercises the option.  

What is an Escrow account and how is it applied to Real Estate Investing?

But be careful of over indulging that’s when you make rash decisions at an auction you may regret in the end.