Hello Brook,I don't believe you should wait, and just start taking action steps toward your goal.

There is a nice invest home on my Neightbor hood that has been empty for more than 2 years. The old couple that used to live there past away and their family live out of town. I had been told by my realtor that the ba...

meet with a lender and go thru the formal pre approval steps to know for sure ..if the 15 yr fixed payments dont work for approval - fall back on using 30 yr payments ( and then just pay extra to payoff the loan quicker)  

Be sure to do this all in writing and document every step because you may need it later.

Congratulations on taking your first steps, welcome to BP Chandler!

@Johnathan Owens First step is making a deal with the devil.... once you crossover you will never be the same man,No but in all seriousness it isnt so much about "what" role you start it in. 

I've seen so many errors made on entity classification when obtaining an EIN...it doesn't really matter what you tell the IRS at that step, what matters are the facts and circumstances.What you're describing is you and your partner own Holding LLC, which owns 100% of both First LLC and Second LLC?

I'm just itching to get the next step going but I guess the prize is sweeter with patience.

@Ryan GoffIt is not possible and what you describe amounts to a prohibited "step" transaction  - i.e. what can't be done directly can't be done indirectly by merely inserting an additional step (by transferring to an intermediary).

My understanding is I can only take out one VA loan at a time, so I've thought there could be potential for a VA loan for a primary residence after going through house-hacking steps, if I understand all the processes correctly...which I probably don't, but that's why I'm here - to learn!