Any gotchas or thinks to keep in mind with that route?  

If I go the "Disregarded Entity" route, can I easily switch to a "corporation" at a later date (when the business grows)?  

Lesson:  Make sure you've exhausted all efforts to find private money before you go the hard money route. 

And for that reason the local Oregon HML do use the PPM route and pre 08 most of us had LOC's with the 6 or 7 local banks that would do them.  

I chose this route 4 years ago.

(since mortgage is not paid off i do not own the property therefor i cannot place property on section 8)Now i know what you are thinking, Decision 2 would be the best route to take, but unfortunately if i do that, i am more likely to have problems renting the property because of these common issues...1.

I would recommend the bank route first.

Remember, to reach a location there are often alternate routes you may take and you may find that the current route you are on is not the best fit for you; all that truly matters is that you still get where you are trying to go. 

They make enough that i know it would not be a budget issue, and from my merchant experiences, i know that ACH payments are less likely to be declined by a bank.... so is there a service to set up auto payments with a routing number and account number? 

Is this something that can be vague at first (as long as it's legal and covers main points) or is it absolutely necessary to have a lawyer write one up and go that route?