Personally, I stay far away from seconds and generally advise others first getting into purchasing individual notes to do the same.

As far as buying 1 property with 3 unit vs buying 3 individual properties, it really comes down the the numbers.  

No lender is required to sell a note to anyone and no institutional lender is going to sell a note to an individual buyer.

@Alfred LittonLLC's are considered pass-through entities so the income/losses earned by the LLC are allocated among the members of the LLC.Ex - LLC earns $50,000 of income where the LLC is owned by 2 members owning 50% in the profit and loss of the LLC.The members would then report $25,000 on each of their individual return.The members report the income regardless of whether the LLC distributes money or not.A couple of things you may want to look into.1) Are you required to file a partnership return?

If we plan on purchasing more investment properties in the future do you suggest creating individual LLCs for each property for further protection?

I quickly realized picking individual stocks wasn’t my thing.

And there is no way to fix that in a short online reply, sorry. 

But it's not AM Best rated and there's very little info about Lighthouse online. 

Oakland County has a nice online database you can access at Oakgov.com. 

You have controllable and non-controllable costs and cumulative and non-cumulative CAM costs if any depending on what is written into each individual lease.