Hello BP community.I'm looking to start my first investment and I'm looking at investing in a multi family unit to get started to help financially by allowing the investment to pay for my rent.

We have zero bad debt and 800 on credit scores, but maybe that doesn't matter for these kind of purchases?

I have an LLC, but have recent debt that affected my score...

Assuming all rents are substantial they should be able to cover my debt service and any other expenses needed (repairs, water, vacancy, cap Ex, etc.) 

One thing I learned about working with seniors as a financial advisor is that they like income, but don't like headaches which could be a reason they're looking to move on.  

FORECLOSURE: A seven year waiting period is required, and is measured from the completion date of the foreclosure.A three year waiting period is permitted if extenuating circumstances [EC: non recurring events that are beyond control that result in a sudden, significant and prolonged reduction in income or a catastrophic increase in financial obligations]  can be documented and the lesser LTV of 90% or the standard product guidelines.

The other thing is that you also don't get debt pay down from your tenants.

Do you have equity and debt to build the project already in place?

But went about it this way because I am closing on other properties in my own name right now so we used just the father's financials to qualify for this particular one, and the mortgage market does not allow lending directly to an LLC anymore.Simply put, our goal for tax reporting is to divide all rental income for this one property equally in to thirds, and to do the same for all expenses (mortgage interest, taxes, insurance, repairs, etc.).

And thus I have to find other financial mean, outside of my career, to find the means to make sure he has what he needs.It amazes me how many different paths can be set upon with REI, the question is always 'which is the right path for me?'.