For example, if you establish a rental property as an LLC, you'll want to set up a separate bank account for that LLC and consider having a debit/credit card linked to that account.

The situation as I see it goes like this: I offer a way for a client to purchase a home and education/information on how that can happen for them (fixing credit, saving money, etc) and they are successful and in the end own their home...... or.... they do not follow the suggested path and they lose yet even more money. 

If you buy the note .. then you prosecute the foreclosure you can credit bid note value and all accrued interest etc.. and maybe the opening bid is higher than anyone will bid.. but you can also bid if there is competitive bidding and your credit bid is already in.. so just brings some cashiers checks with you up to what you will pay.OR buy the note and then release the debtor buy doing a deed in Lui.. you would take title with the buggered up issues but if its long term hold who cares right ??

After six months I try to obtain a home equity line of credit or other refinance tool using the $100,000 tax assessment value, assuming my credit is good enough.

@Dylan Mejo I’m assuming you’ve looked into Hudson River credit union?

Having a mortgage or at least a line of credit against property helps.If you have more than one property you could put each in a land trust owned by the LLC.

The husband has very good credit of 706, no late payments and is the primary breadwinner; his wife is a SAHM, has poor credit of 594, mostly due to late payments (some 120 days late) of student loans, some as recently as April 2018.

Form a relationship with a local credit union and get them to write a different letter for each offer?

In order to get approved, the applicant must fulfill both the credit and the income requirement.

How can I improve my credit enough so the banks feel comfortable about giving me a loan.