. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.After all that I'm in a range of breaking even or making $200 a month with this as a rental.

We also do not really want to go down the whole personal guarantee, W2, tax return, credit score route... or is this something we will have no choice with without hard money in this climate?

These type of people always have a story about the job they're about to get, tax refund coming soon, inheritance, etc. and when you drill down you find out they lack basic things (ID) that would enable them to follow through on their plans.

Due to their liability protection and tax advantages.

On your taxes do you write off the MI currently? 

Therefore, there is no real tax benefit to having an LLC.You may also want to have a discussion with your attorney on the real level of protection you would receive from this strategy in your state. 

Seller financing is a great way for the seller to avoid a lump sum capital gains tax, and still make steady/expected income on a property even after they sell it. 

They would likely lose any homestead tax benefits and possibly lose other things as well.

It would also essentially wipe out $400/month rental income and you'd lose the additional benefits like potential appreciate, tax advantages, etc.If you planned to buy another rental, that would be a different conversation because there might be upside there.

I have been paying a lot of taxes every year from selling stocks and have a high W2.