Also, when trying to "hide" assets it can bring a negative viewpoint on yourself...But, normally I believe you'd form a LLC in a State with anonymity favorable laws such as WY or DE. 

In addition, if the appraisal is really bad then contest it and find the comps that justify a higher valuation (I received an $80K adjustment on a really poor appraisal that we so easy to show was poor as the per unit cost on my poor appraisal was far lower than any other per unit comp)The pro forma has to take into account the conservative refi appraisals. 

When an ownership groups grow they generally form a management group.  

We will both form a new LLC in Colorado and buy our flip houses in my name or her name.  

Also, when you started to purchase out-of-state properties, did you form a team on your own, or did you begin investing out-of-state with a turnkey company.

Network, ask questions, form a strategy, and, oh yea, ask questions! 

So the question I have, if I form a new LLC, will I qualify for a DSCR Loan, or do I need to be "in business" for a while before I can do that?

Shedrick Archangel You need to build a pro-forma for any purchase.

The plan itself provides you the checkbook control necessary to effectively invest in notes.You could choose to form a LLC under the umbrella of a 401(k) as a means of creating asset segregation, but since notes generate very little in the way of liability, that is probably not necessary.  

More importantly though I think, I have several friends I can lean on who are commercial developers who can help build out a pro forma to filter leads when they come in.Big picture, I'm wondering how you might recommend approaching commercial property owners with direct marketing??