If you're looking at residential mulfi families (2-4 units) you'd likely get some type of 30 year fixed product and your lender would be able to give you a pretty good idea on the first call/meeting what your interest rate would be (after pulling credit), type of loan, downpayment, as well as closing costs for the loan.If you're looking to make offers on properties in Boston or Massachusetts area, sellers won't even consider an offer without a preapproval/proof of funds.

The loan we will likely be using is a fix & flip product that has a 1 year term with an optional 6 month extension.

Had a glue down product "professionally" installed & it was a nightmare.

@Levi Dullum I agree with @Jonathan Greene.

The key is to have someone who is familiar with the product you are buying. 

You can have a cosigner now, but it all depends on the lending institution and product as to whether they want to loan like that.3.

The 10 year maturity date is where the HELOC will modify into a different product all together.

The biggest factor or problem that I see is that sometimes people don't set their sights high enough, they get lost in the details worrying more about $$$ versus %, or they shoot for an industry versus the product. 

I personally don't have any experience on the LLC questions but since you're looking into BRRRRing check out the book that David Greene wrote on the topic.

@Adrienne Green thanks for the welcome and the response!!