My father and I have formed an LLC with another friend to start buying some rentals.

Here is my experience, and my regrets: https://www.biggerpockets.com/forums/922/topics/1133476-hous...At this stage, Zillow and a mortgage calculator are your friends.

I think my next moves may be an out of state duplex and/or a local flip with a realtor friend of mine who has some experience doing it.

Get a friend/relative/co-worker to rent a room from you?

Don't rent to family members or friends. 

I highly suggest you use our marketplaces to find trusted, investor-friendly team members: Tax Pro finder: https://www.biggerpockets.com/business/finder/tax-and-financ...Lender finder: https://www.biggerpockets.com/business/finder/lendersProperty manager finder (if you go that route and don't self manage): https://www.biggerpockets.com/business/finder/property-manag...

Even though you’re not fond of DSCR loans, it might serve as a bridge to free up your line of credit for quicker flip-and-reno opportunities.I remember years ago, a close friend of mine was in a nearly identical situation.. from what I read in Forbes, he ended up with zero wiggle room each month.

AJ Fields Inc. began when we saw an opportunity to take over management responsibilities for a family friend’s properties.

However, you are talking morals and ethics with a gentleman who has successfully done business with perhaps hundreds if not more users on this site and hundreds more who have never heard of BP.  

I’m determined to make this work not just for myself but for my family and friends.