again, they need to get off the internet, no clue what they are doingl ITS THE SAME EXACT way as renting to anyone, just more paperwork,All the best  There are people drinking tons of kool-aid from all these online gurus.

Is there any other loans that I should apply for?

Here is what is being considered:SCENARIO 1):1) Parents loan us money at X% rate.2) Loan terms would allow for early payment without penalty (we would get a conventional loan in 2-5 years to pay parents back). 

We would be looking to use a conventional loan.

Is anyone experienced with the online management company Stessa? 

Anybody on the LLC or the operating agreement can qualify For the loan. 

You can use a DCSR loan alternatively, or as I love to do; buy homes using seller financing.

Unless I am doing something wrong.Lets say there is no loan and just one investor for arguments sake.the property is $1mil   from what I have seen average NOI for a $1mil property is about 50k a year.6% of 1 million is $60Kso clearly I am misunderstanding something or just being completely stupid.Could someone explain this to me?

Here is what is being considered:SCENARIO 1):1) Parents loan us money at X% rate.2) Loan terms would allow for early payment without penalty (we would get a conventional loan in 2-5 years to pay parents back).

Personal loan for the rehab.