Our goal is to purchase our first multi-family in Brooklyn or Queens and move in once our lease is up.Background- Both work remotely- No debt / No Kids- $250k+ in savings for a downpayment (should we do an HFA?)

The problem is that I can't get a loan - I'm too good at taxes, and don't have enough income to qualify for conventional products, and don't have enough portfolio, cash/flow, or experience to get hard money.

Also, there's a big tax benefit from paying your primary home mortgage that you are missing out on when you rent.

The "mail address" is where the property tax bill goes.Add to that LOI "CC: Owners of the ABC Trust" or "CC: Owners of 123 Property LLC," and date it when you send the email. 

That’s loan payment, property taxes, insurance, maintenance, utilities etc etc.

Take into account elements like diversity, tax advantages, cash flow, and potential for appreciation.Determine Your Risk Tolerance: Investing in real estate entails some risks, such as shifting market conditions, vacant properties, and unforeseen costs.

but you should always do a quick title preview to know what is on a home you might purchase at any tax sale or foreclosure sale.  

I heard that with a 1031 exchange we would need to replace the entire debt.

You are charging 10% interest, which gets taxed at ordinary income so you will pay 2-5% state tax on that money as well as your income tax level.

Or any tax strategies that I’m potentially missing out on by not setting it up in an LLC versus personal conventional mortgages?