Hello fellow BPers,I have a rental property with a single detached home on a lot that is zoned for up to three units.

It can be attached or detached. 

The house needs about $10k-15k of work and has a detached shed that was illegally converted to living space.

I gave a lower ARV at $420,000 because of the lot size being similar, but not as spacious due to a built in 4 car detached garage which took up a lot of space.The numbers were really low..

If the LLC has no business credit of its own, he will have to give a personal guarantee, but that is NOT an obstacle to financing.

I appreciate the advice, my obstacle is no money ( not able to borrow even from family and friends ) and my credit is poor at best, however I am working to rebuild my credit. 

I have read that there are a number of obstacles when buying a SFH under an LLC (i.e. having to use a commercial lender, higher interest rates, shorter amortization and balloon payment after 5 years).

From the below information, it seems that they can stay here until lease expires at the end of June and report to new location in July.When directed detach in July 20Report not later than Aug. 14

Purchase price: $520,000 Cash invested: $100,000 My wife and I bought a single family home with a detached garage.

I'm not sure if r1 zoning covers basement suites as well and r2 is solely for duplex or detached multi family residential or what.. another thing to tack onto the list!