In your case, they'd be different lenders and the lender will likely have a seasoning requirement unless it's a community bank or a credit union that has more flexibility.

We’re both 23 with okay credit but not good enough for big time loans.

And what’s easiest way to get a loan on the next one if this loan will show on my credit and effect the debt to income on my self when trying to qualify?

Credit Score?

Does my personal credit get dinged or the LLC gets the bad record in turn causing the LLC to go bankrupt?

Make sure you have several months reserves to cover payments since anything you do will potentially affect their credit.

Services like Cozy and Smartmove can handle the background and credit checks. 

I am in the process of closing on a primary residence through conventional financing.I have a unsecured line of credit, that i occasionally move money into my main checking account, when I pay contractors for work on rentals etc. 

Still I have never had trouble finding good tenants with decent credit scores and good income.

@Chrissy Arnold  EXACTLY  lots of Hat and NO cattle in this business.. that would be the first thing I would want to know what is there capacity to transact.. if they are trying to get you on the come ( the OP)  and drown you in futures.along with majority of their revenue has to be from making what in essence is real estate broker fees  IE wholesaling.Denver it is quite tight for inventory.. you would probably be better served to get a license and work for an established top producer on their team.. were you really get paid... now if this is a big well capitalized group and you know for sure they have many millions in cash and credit ready to rock then that's another thing.. but your position should be a paid for position if they have the wherewhithal to do this they should be able to easily afford you on salary and small bonus..