I know....this might not add up but for one of the addresses there are other buildings "attached" to the same address.SO yes, I estimated $800 a month for that.- Yes, that number is correct, I am working with a lender that is offering 100% financing.

I questioned that when I read that but just figured I was just not yet aware of potential opportunities out there where you can get a bank loan for 90% of the cost (and pay PMI) or maybe bring in a partner or private investor to cover the other 10% of the 20% down payment to avoid PMI? 

I know of some portfolio lenders/small local banks in South Carolina that would agree to this as long as the total debt service (1st and 2nd mortgages) is still above a 1.25.

Or perhaps you could get a commercial bank loan and have the seller carry 30%? 

Due to Florida Real Estate rules, I can't have two DBA attached to the LLC that is the current brokerage corporation (the commercial firm).

My rental business is only a year old therefore it seems I can’t get a bank loan before I get two years of tax return. 

Decline 203k FHA loan, and get a loan from a bank after closing, renovate units as tenants leave.I have never gone through a 203k process, and am not sure what the best option will be. 

Light rehab only too, as I'm trying not to break the bank. 

You would get a EIN/Tax ID for the trust and use that to get a bank account opened for the trust to hold the funds and deploy capital as needed.

Buy 3 single family homes ( around $40k-$50k each) and then do a HELOC to get 3 more houses and continue with the snow ball effect.Or ask to a investors bank for a bigger loan using those $120k-$150k as down payment to buy rental properties of course.Thank you!