A 3 bedroom house with two roommates would bring in around $1,400/month, and a home in the high $200k's with 3-5% down would have a mortgage pmt around $2k/month.

This will affect how you market a lot.One piece of advice on what you wrote.

Quote from @Jessica Neely: There are a lot of different techniques.

Do you have a defined market area?

Quote from @Devin James: Just as important: be a giver, not just a taker.

This is a mixture of areas for good flips & rentals.

Thanks for input - He's insisting that because it's a DSCR loan, and because the size of the deal is too small to go into their "Portfolio Loan" product, that it has to be two separate loans. 

We know we want to create an llc but is it difficult to secure a loan?

This seems a bit risky and too complicated, in my opinion.

It's a moving target.