I was promised that they could make this happen and rolling it into an LLC would not be an issue.

Last week I got an email for a home and here are the numbers.Sale Price $115k1564 Sq ft 3 bed 2.5 bathBuilt in 2003MidCad Assessed Value- $162,570Zestimate- $215,599Rent Estimate: $2400 (rent prices in Midland are high)House down the street sold for $199kNeeds minor roof repair,  siding repair or replace stucco, new floors,  new doors,  replace windows,  deck repairs,  minor electrical repairs,  HVAC repair or replacement, Re-do Master bedroom,  water heater repair, new appliancesBuyer pays closing. bring best offerI want to get into buy and hold, and this looks promising especially with Midland prices.

Loan officers don't have a squeaky clean record with me and their promises...Can you confirm this is 100% a lender fee and not a Fannie/Freddie Requirement?

They assist with down payment on purchases as long as you promise to AirBNB out at least a room and share that income with them.

I understand that there will be taxes to pay and that I need to speak to a professional before moving forward but am interested in some direction from those who have been there before.There are a lot of you out there doing this so I promise to keep Dancing With the Stars at bay while I await your answers.Thanks in advance for your responses.

I promise you I will definitely be reaching out to you for information.

The seller promises an above market rent using their own property manager and putting in a tenant with one rent on paper and a lower one under the table.  

Most people are smart enough to know that it doesn't make sense to give a Landlord that much money at once.However, if you've screened them and they truly do look good in every other respect, then I would accept the advanced payment of funds as long as it's in certified funds (money order, cashier's check) and not a personal check or a promise.

If it seems promising, I'll move there for the next bit so I can be closer to all the deals and get a better feel for all the different neighbourhoods.

Don't make promises.