Travis,How in the world do you rate living in Hawaii while the rest of us Hoosiers are currently buried in snow at the moment?

There is no reason to not have traditional AND unconventional ways of acquiring property.  

Visited about two years ago.I am guessing you will be glad the snow is melting soon!

I would say I would like to take a conservative approach to finance with either a cash purchase of a low end property or a traditional mortgage and use any free cash flow from a property to ether pay down additional prinical or save for the down payment for future property.

Most people on this site are really good and have a lot of experience so I'm sure you'll get some good feedback.In regards to the LLC just remember that when you put a home under one on title it will disqualify you from getting traditional financing.

If you are using traditional financing you will likely need to keep buying in your personal name.

I have seen banks wanting you to own the property for 2 years before they will give you a loan on it.If you have not owned it long enough to satisfy a bank, you might be able to approach private lenders in your area.Best thing is ask everyone (banks and non-traditional lenders) what they will do for you and see what they say.

Sky Mikesell here based in Charlotte NC. if this is a foreclosure sale then most states allow for an accelerated removal process of any stay over occupants. .. when i say accelerated that means it is faster then traditional eviction proceedings.    

@Brian Lauchner Prosperity Bank (based out of Corpus Christi as I recall) seems to do a lot of non-traditional type loans. 

I'll be there providing we don't get snowed in again...I suggest checking them out, as it has been very informative for me personally.