Here are a few below:Generally, buying through your personal name can reduce the interest rate - commercial rates on LLC mortgages are usually higher but you can research thisMost LLCs on incorporation don’t have any credit so it may be difficult to find. a lenderIf you own the property in your personal name you are exposing yourself to more risk and will want to transfer the property into LLC as soon as you canIf you own property in your personal name and transfer to LLC the lender may not allow or can call the entire loanLLC or personal ownership you need insurance.If you search the forums for this topic using the magnifying glass feature in top right corner of your screen on BiggerPockets you will find a lot of discussion on "Quit Claim" "Buying through LLC", "LLC or not" etc....

This is very enticing after seeing what we would roughly owe on the monthly mortgage even if we are conservative and say we will only make $1,000 a month income from the MIL suite (I think we could easily get $1,500).

No doubt if the borrower is not paying the HOA they will not paying the first mortgage and in this market of severely underwater homes that is their bond to break.

There were daily issues and when they didnt complete the job, nor complete it properly I went to his office to complain.

We plan on taking about 3 months to renovate then I would like to get a mortgage on the property.

Does anyone know whether a bank would be open to doing a second mortgage if I purchased the property but did a subject to on the first mortgage?

I have researched it, and it seems that you need a mortgage originator license from the state, and to be registered with NMLS to offer these types of loans. 

Here are some numbers185k PP = $1400 mortgage ARV=220Rents for 2500-3000 a month Saving 15%-20% for M&R, Cap Ex, VacancyIt will CASHFLOW very well...

Give Proper a call @Holly Polf.

However, it's crucial to differentiate between capital improvements, which can affect your tax situation and potential interest deductibility, and mere repairs or maintenance, which do not.Furthermore, the mortgage interest deduction is capped at interest on up to $750,000 of debt, a threshold that encompasses both your primary mortgage and any additional secured loans.