Even with a traditional FHA, you can be in for as little as $3,500 (3.5% of sales price), with you negotiating for the seller to pay your $2K of closing costs (this is a standard buyer request now), and having your brother on the loan just entangles things and encumbers his credit.

For example if a suit is won against the LLC due to activities involving the business itself the perhaps the judgment would only be able to be executed against the LLC and it may be more difficult to use co-mingling to come after me personally since the LLC benefitted from the loan in my name in the sense that the loan in my personal name could be clearly demonstrated as a contribution to the LLC since the LLC needed such in order to purchase the property to begin with.The very best alternative to all of this is to whenever possible own the property in a retirement (roth or traditional) account as that provides the absolute ultimate protection in America. 

If you are looking to buy a rental, you'd want a more traditional type mortgage.

Sevierville cabins are more traditionally "out of the way" and quieter (at present).

But if it is a traditional IRA, both gains and contributions will be taxable and early withdrawal penalty will apply when you take it out before you reach 59 1/2 years old.

Southern IL has a lot of markets where more traditional housing competes with the affordable model, which is not ideal.Next, anyone looking to help you out here will need a tad more information to assist you in an evaluation.  

The property is an older home, built in 1880, which needs some finishing -- so it might not meet all the requirements for a traditional mortgage loan.

I am new to the site and I am currently exploring options for non traditional financing.

Didn’t go the traditional yellow postcard route or picture of a house.

A partnership or a traditional LLC structure typically does not allow equity partners to also be treated as employees.