That's why I suggested a bigger multifamily, they are income producing, unlike a primary 1 unit home that is income consuming.

If they give you any trouble about starting out with the title in the LLC's name from the start, find another bank. 

People do not want Big Brother sharing their private information.As soon as you say - "so I hear you are in financial trouble" (I'm sure you wouldn't be adding "and loosing your house") they may go running for the hills.

You have no payment history and the tenant is either in trouble and genuinely cannot pay rent, or is trying it on and looking to establish a relationship in which late rent payments are OK.

Find lenders who may supply free credit counseling, get a team of people together who shares your interest in helping people get out of trouble.

Being a Realtor, I offered to list it for him and see what the open market would produce.

Im having trouble finding rent rates for the area as well. 

Just so I know, for talking to other people, I would like to know which lender is so much trouble.

Although there are some properties listed on the MLS that will produce a return for a flipper, most are listed to high and to deteriorated to turn a decent return.     

Seems like a home run in the short term but long-term it just seems like it would be too much trouble.