When the tenant pays, we credit to owner.This avoids the owner being penalized via late fees and lien issues, due to tenant nonpayment.We do charge tenant late fees and even start eviction proceedings when needed.

And of course, I would be certain you are in a market that is in demand for mid-term rentals, i.e. you need to be in or around a fairly major city, or have a big hospital nearby that utilizes travel nurses (does every hospital use travel nurses?).

Of course this hinges on quality of deals! 

@Jillian BibbinsYou aren't required to keep receipts for purchases from your business credit card or bank account.

Taxable income on the rental was about $6k after depreciation last yearparent plus loan of about $27,000 in forbearance as my daughter is still in schooluse credit cards but pay them off every monthno other debtmy w-2 income is 70k, and I am a shareholder in 2 small businesses where I get approx 25k extra each year my husband makes $92k w-2 incomehave about 60k in savingsis it possible to get a loan while using the heloc for a down payment?

It would be awesome to connect over a lunch or coffee to chat REI, our local market, and of course, property management. 

It needed a new roof, new plumbing and re-run electrical which all require permits anyway so I structured those in the loan:Purchase Price - 48kRenovations built into Loan (roof, electric, plumbing) - 40kLoan after 20% down - $70,400I then had a 15 month zero % interest credit card that I did the other 20k of renovations with.

Quote from @Nathan M kiefer: But what do your numbers do if you go all cash in, talk about insane......that's what those numbers would be and are 😉 @Nathan M kiefer, by insane you mean BAD of course, since you would only get 20% of the ROI and lose out on most of the gain.

Here are a few below:Generally, buying through your personal name can reduce the interest rate - commercial rates on LLC mortgages are usually higher but you can research thisMost LLCs on incorporation don’t have any credit so it may be difficult to find. a lenderIf you own the property in your personal name you are exposing yourself to more risk and will want to transfer the property into LLC as soon as you canIf you own property in your personal name and transfer to LLC the lender may not allow or can call the entire loanLLC or personal ownership you need insurance.If you search the forums for this topic using the magnifying glass feature in top right corner of your screen on BiggerPockets you will find a lot of discussion on "Quit Claim" "Buying through LLC", "LLC or not" etc....

Of course, sent you a PM.