Each lender came back with varying deal obligations and as you will see below Commercial Lending is the Wild Wild West: The first didn’t want a second on my primary residence but wanted 30% down and for me to pay for inspections and appraisals on each property (6% on 3 year callable, 20yr). 

good luck on your journey live below your means and save that cash for your 1st property!

So if you did a "delayed financing" transaction and the "Create the LLC" transaction and received the same exact loan amount...the rate would be lower on the "Create the LLC" loan when you refinance. 

Here are the numbers I got below in my analysis.

Here are the numbers I got below in my analysis.

Most hard money will be interest only payments on the full approved balance of the loan whether or not if you have pull the draw funds for repairs.If you have any other questions, post them below so that we can all learn from the answers.

Where I am stuck is below on two different options:I could buy a nice home in a decent up and coming area (Germantown, Sylvia park etc.) after our apartment lease is up and my 2 apartments roommates would be my tenants for at least the first year (maybe longer).  

:@Wilson Lee FYI -  - Owning Rentals in an S Corporation Might Be a Costly Mistake.And for all I know, owning real estate in a C-corp is even worse - why-you-should-never-hold-real-estate-in-a-c-corporation + Why-Owning-Real-Estate-in- a-Corporation's-Name-is-Not-a-Good-Idea.I had though ownership would flow like this (see below)  and thus remove the risk of someone reaching inside the C-corp and take position. 

A sub2 makes sense if the mtg balance, plus any cash you need to give the seller, is below market value.  

That is not bad, but again, it's a bit below my personal minimum threshold of $250 (ideally I look for at least $300 in monthly cash flow per unit).