Items you should be asking yourself about this or any opportunity is:- Risk or Exposure - Exit strategy - Property specifics - Financing - ROI Evaluate worst-case scenario and determine if the property meets your needs or criteria.

Mostly lenders will give you exception for property which is under 1 year rental history with 75%  rental income or from your schedule E. 

Attending local BP meet ups is another way to quickly build your network.

Here are some recommendations for you:Read the Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing Join a local Real Estate Investors AssociationFind and connect with other BP members that are in your area: http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of the person which should appear below the comments box.

If you are the sole owner of the LLC, then the IRS will consider it to be a disregarded entity and it will go on schedule E of your personal tax return. 

Go to your local REIA (Real Estate Invest Association) meetings or find real estate groups on sites like LinkedIn or Meetup.com.

The property must meet or exceed the 1% rule at purchase (rental income must be 1% or greater of the purchase price).2.  

There are a couple of properties I'm interested in that are priced above my pre-approval amount and I'm not afraid to submit an offer based on what I can and am willing to spend, but the agent I'm working with feels it's a waste of her time to schedule a showing for a place outside my approval limit because "there's no way a seller would accept that offer."

There's a lot of great local meet-ups that I'd encourage you to look into. 

I can try to answer any questions you may have or if you ever go up to IF, we can meet up.