Just wish there was someone who could take calls for me in the middle of the night, when I'm traveling, etc. 

So you probably want the LLC formed before you enter into a deal.Funding LLC: not sure if it really matters.

I personally feel this would is the best method for me, to start out with at least.

You could also look into forming an LLC and have Joe be the chairman of that LLC and look for financing.

Ideally, we'd like to achieve owner financing for the purchases but also have the possibility to get commercial financing.I find myself with a small but highly targeted list - owners of more than 10 residential properties - their motivation to sell is a huge unknown for me.  

@Nickolaus Cabcabin While it looks from the report that it would cash flow, it would be too little for me. 

I wanted to see if anyone had any advice for me.

For me it was to get my foot in the door into real estate and to be able to rub shoulders with others in this industry.

Then I chose an option that was best for me.

If I were to deny based upon 1 of the applicant's credit check, is there a regulated process I need to follow or a form I need to provide them?