Surrounding yourself with like-minded individuals will push you forward much quicker than you can imagine.Feel free to connect if you want to learn more.I own 75 units in Albuquerque and know the market pretty well.Jens

Most DSCR will need to be around 1.1-1.25x most purchase agreements will have your individual name and or assignee and assuming you have all the entity documentation required by the lender (articles of incorporation, operating agreement, bylaws, ect.) you should be able to get the loan in your entity's name.

I am planning to begin real estate investing by forming a partnership with a family member - my brother in law.Neither of us has established an LLC for these purposes yet.I am trying to decide which would be better:1) for us each to form our own LLC individually, where one is the owner and the other an investor, or 2) we form a single LLC as partners.I would love to hear thoughts on potential pros and cons of each, or possibly other alternatives.

In my limited experience with short sales, the bank won't talk to you unless you have the owner sign a document indicating that he's given his permission to let you talk to the bank on his behalf. 

I have been working in this area for my W2 for nearly a decade and have seen even individual homeowners fined thousands per day for violations.

In my thoughts, it's a positive thing, but not an indicator of neighborhood class A,B,C,D or structure class A,B,C,D.If it's reasonable walking distance (a 10 to 15 minute walk) to the Walmart, and fast foods like Burger King, 7-11, Arbys, Wendys, etc...

If they both signed the lease as you initially indicated then for one person to get the deposit OR to split it evenly you need a request from both of them to do that. 

The best strategy for you will really come down to your individual risk comfort level.Whatever path you go with, though, treat the businesses religiously . . . attend to them in every way as separate businesses if they are separate and you'll hopefully uphold the purpose of an LLC with operating as a business in earnest.

Echoing @Curt Davis - I would definitely have each individual person sign a lease for their own room if they do not know each other. 

I've heard that a neighbor is in ACD, which i believe is an indication of foreclosure w/in a FHA loan.