Think of the LLC as your worst enemy. would you give them a free home to pay with your name on the mortgage? 

Think of it this way, your own personal credit is tied to your SSN and you can improve it by utilizing credit whether that is credit cards, loans from a bank, or mortgages. 

i can help you with these mortgages and structuring.  

Network as well and go to local real estate meet ups.For funding: you can HELOC, find a private lender to lend you 20% down, find a capital partner, or just live below your means for a little while and save till you have the 20% down (can go higher or lower than 20%, but 20% is generally required for fix&flips & BRRRR loans if not going conventional).

Income - student debt - mortgage payment - monthly expenses = monthly savings If you're going to go down this route, I highly recommend that you house-hack your first deal.

Still not clear if you had a joint venture agreement or a recorded mortgage with a note in 2nd positionBut sounds like hard money lender foreclosed and it wiped out a second lien.If you gave loan in that persons name vs LLC then you could still get a judgment and recourse but if it’s only LLC with no personal guarantee then your options are go after LLC only (and hope their are other properties in the LLC)What due diligence did you do on this person originally?

The mortgage is $1100/mo and will rent for around $1900/mo whenever we decide to move. 

Hard/Private money, creative financing, etc...

Question: Can you just put the money together and have them share the first mortgage?

Hello, I'm not new to being a landlord but I'm new to private lenders.