Each lender will have their own criteria but here are some tips for getting funding as an LLC…Lenders will often require these documents: Employer ID number (EIN)Your LLC’s operating agreement (the most important part is the list of owners and their percentage of ownership)Income documentation for the business which would include bank account informationInformation on any rental properties you may already haveThe personal income, debt, and credit information on each member of the LLCWhen you’re getting funding under an LLC, bear in mind that personal guarantees or credit checks will also be required.

Specifically, I'm looking for neighborhoods with a good amount of distressed 3+ bedroom townhomes for sale for $120k or less that require a moderate amount of renovation (no gut jobs or major structural issues) and that will get me a rent-to-price ratio of 1% or higher on the final ARV.Thanks in advance for any thoughts/ideas/suggestions!

The person you spoke with may be referencing earnest money deposit (buyer showing the seller they have skin in the game; this can be refundable or non refundable).Some lenders require an application fee (junk fee) and those lenders typically are more expensive to begin with.

If you just want 20yr 2MM non convertible term its price shopping except prices may change depending on how automated the carrier is and if a paramedical exam is required.  

When it comes to basic necessities such as food and clothing, groceries are around 6% less in Jackson, TN than in the rest of the country, while clothing costs around 6% less.

TD was not interested in doing a new HELOC because my portfolio is too big for their lending requirements (7 properties with primary, I thought the limit was 10, but evidently not).In any case, I am looking to either do a DSCR loan or if possible find another company that would do a HELOC on an investment property.I am wondering what lenders you are currently happy with on the DSCR side and if you know any that still give HELOCs on investments.Thank you so much! 

Lenders typically require a DSCR of at least 1.2 to 1.25, which means the property's NOI must be at least 120-125% of the annual loan payments.this would be a boost to the investing time

Its going to be a new client for me the Savvy agent.Also your going to see a huge spike in wholesale deals that we all know are basically illegal unless they double close.

If we did split it four ways it would be over an acre per slice and it does seem to meet all the requirements (such as minimum lot width and road frontage etc.) for its current zoning as a four parcel set up.  

And yes, the Buyer Agency Agreement requirement is troubling.