I’m closing on a completely legal 11 unit with separate breaker boxes that’s one meter and we’re switching to individual meters.

It'll be 'easier' to get a loan as individuals rather than an LLC (specially if it's newly formed).

The big firms are structured around residential business, although you will always find individuals that know their way arround in the investment world.

Break down individual unit rent rates.  

The neighborhood where I have my units is made up of about 30 individual 4-plexes, all 2/2 or 3/2, and 3 different models. 

Also local custom will play a part here.

Considering buying single family properties with individual leases for each room rather than renting out the unit as a whole.

In my case it has played out over 15 years.I bought this house over a decade ago and live in it with the plan of eventually renting it out.

We want to go in together and become a entity under a company name that we can grow with, not individual buyers.

And with a good tenant buyer that is willing to pay in a little extra per month toward the down payment, you can get them to work... and ultimately collect your profit on the backend, or on the second and third lease option tenants if that plays out.The clear advantage of going this way is... if you dont find a "GOOD" lease option buyer, you are not obligated to the sellers... just let the bank take it like they were going to anyway.Pre-foreclosure lists are easy to find, and because getting a short sale completed is a numbers game there are often many sellers in that niche that could not get the short sale done, and are going to walk... you can cut your teeth on those until you get your system fine tuned.On a side note... the other way to go is to get a mailing list of absentee owners from your county tax rolls, or realquest.com.