Good leasing techniques to help a prospective tenant make the right decision on their own is key, and it's a skill - AKA don't chase them down. 

However, I always heard you guys saying it is best to invest where you live but still this doesn’t make sense for me as I am looking for cash flow and not really chasing future appreciation ( I mean if I can benefit from it that will be great but I am not relying on it).

In worst case scenario where it gets foreclosed and bank chases for recovery of losses:If it’s an LLC with 3 people, what determines who is responsible for what percentage?

I am a chase private client but I doubt they are the best lenders.

Core logic is listed as the payer for my house, whereas Chase is my mortgage company. 

And if the person you are working with is female, then there's a chiseled jaw-line for her to look at (realtor if purchase, LO if refi, the "looking hot sells" dynamic is identical, assuming the LO/realtor puts decent production numbers up & is worth them chasing).Escrow/title companies are also the highest unit count and volume services that you will encounter, again by far.

@Blake EdwardsDid you use big name banks like Chase/BofA or smaller ones?

I know Chase didn't and most credit unions didn't.

I knew the down payment was a firm 3.5 but completely forgot that I was chasing a foreclosure meaning I had to pay all closing costs too.

Chalk it up to experience (tenant estoppels might have prevented this situation), and spend your energy managing and improving the property rather than chasing the previous owner in court.Depending on the remaining lease terms, you could wait until the leases renew and make the change then.