You could still loose money because your personal backing of the loan is not protected under the LLC. 

Or it has a loose connection that needs to be fixed.

.- Some HMLs (using that term loosely) provide ground-up construction financing.

There has also been a regular one at Out of Bounds brewery in Folsom that you can look up on BP as well

Of course not everybody agrees with this strategy because of the potential of loosing good guests to a lower price.

You will loose some money to financing costs, but that is how it is done. 

About the property:3 bed, 2bath, 1700sq ft single family Tudor Style home w/ attached 2car garage on 1.5 acres with 150ft of lake front on a small no-wake lakeIt has been gutted to the studs with electrical and plumbing rough-ins approved by the county, new windows, and new roof (2yrs)Purchase price: $90k (cash)Estimated rehab: $135k (will be walking through with contractors in a few days to get multiple bids)ARV: $260-275kDepending on the actual total investment and ARV, we plan to either flip it or BRRRR as a short-term rental (with small estate wedding venue potential) If a flip, I would like to see $40k+ but I am ok with this not being a home run being my first one, mostly want to learn and not loose my behind!

I have asked this question to a couple of the bigger banks when I first started looking at mortgages, and it seems like there is a loosely enforced 1 year mark between owner occupied.

We've spotted numerous soft spots, flashing issues, holes, missing ridge caps, cracked/loose vents, and cracked/missing pipe boots.

But do your Homework before investing because if not you can loose your money in seconds.