Im Down for that,  but how does that even work?  

I'm looking to target parcels around where I live (in the Midwest) to buy and subdivide into a minor subdivision to sell to builders.I am seeking help on what criteria I should be using to filter down lots for this goal.

For $150,000, this could be $3,000 to $7,500.Investing in a Rental Property: Costs and ExpensesDown Payment and Closing Costs:Down Payment: Assuming you buy a $300,000 rental property, you need a 20% down payment ($60,000).Closing Costs: Typically 2% to 5% of the purchase price.

Down payment will be a minimum of 25% of purchase price and these programs are generally for 1-4 units.

It's a myth that seller finance and sub-to work for investors with no- or low-money down in general.

Borrowing 405000. 25k down on 430000 duplex1.

I'm looking for lender recommendations as well as how the rental income is used for qualification purposes and down payment requirements. 

It brings up another question then... lets say I only break even on mortgage vs rent, if I am in between tenants for a month or more, which means my operating income isn't enough to cover the mortgage, at this point if I choose to deposit my personal money to the LLC bank account to cover the mortgage for those months, does that create a potential legal issue down the line if I do get sued?

The best option in your case is probably a DSCR loan with 15% down. 

Have not done any business with them but did have a sit down with the owners last June when I made a brief visit to Cleveland .. and was impressed with their knowledge definitely seasoned players in the space.