Receiving a LOC on an investment property is also relatively easy....but it's hard to find a bank that offers it. 

Also I strongly suggest reading a couple of books, filtering the forums for discussions directly related to what you're trying to do. https://www.biggerpockets.com/forums/12/topics/318235-double-close-funding

What, otherwise, will be the policy in relation to dividends – to what extent is it intended to distribute / retain surplus profits?

We have recently established LLC, subsequently purchased an investment property in the state of New York but because of LLC being relatively new  my husband had to guarantee the loan to finance the property.

Ideally I'd like to invest somewhere that is within driving distance from DC (within 4-5 hour drive or so).. this is likely my newbie insecurity but I'd like to be able to get to the property on relatively short notice in case of an emergency.. at least until I gain some experience.

Your passive loss, however, can be.For example:Let’s say my MAGI is $160k, I have gross rental income of $10k, expenses related to my rental of $6k and depreciation of $5k.My net operating income is $4k ($10k - $6k).

If he's a fellow member of the LLC then you'll want to be sure your membership interests are in relation to the capital you are contributing unless you're doing a complex deal where services are contributed instead of capital. 

I know that all of this is very relative to the location, the properties invested, the perceived risk etc, but Im starting to look for private money on short term investment loans (so I can BRRRRR them) in which I will refinance and pay them off. 

I can't speak to their pricing relative to other plumbers in the area since I haven't really shopped around, but I've had them out to my house a few different times and their employees have always been great.

Relation How did you finance this deal?