Really educate yourself on renovation cost and after repair values. 

It's about being a person great mentors want to help!

The person does pay her back and she did report the interest income. 

Should the landlord on the lease be our LLC or our personal names?

If you have multiple people on the company, you ideally want the person with the highest credit score to have the most ownership percentages. 

If you are worried about being over leveraged first look at your personal debts that are not producing income for you.Remember that when you are increasing equity in a property you are only reducing the risk of the lender.

If it is a good deal then the right person will be willing to look at some private money options or even look to structure a partnership where they bring in the capital and lend-ability and you manage the deal for them.

This is a different person cleaned after cleaning people cleaned for a short-term rental. 

@Erik Heldt- thanks - sounds like a decent well thought out strategy .As you cant use your  VA eligibility for a rental purchase - make sure that you  get fully pre approved with a lender before you begin looking  so that you are  educated / organized and  prepared to make an offer when you locate a property . 

Have you asked the person who trained you for direction?