Banks will be a cheaper option, but may be less flexible than a private or hard money lender.Best,Michael

Hard money and private money are more flexible bit equity driven. 

I recommend you give her several days notice and a couple options so she has flexibility in case there's a legitimate excuse.

One would recommend being a bit flexible with tenants who have been there for years since they are good payment tenants. 

If you buy a credit tenant like a Dollar General or a Family Dollar, then lenders are going to be more flexible on financing terms as they are taking on less risk that the property will end up coming back to them.

However, it only makes sense in very specific circumstances: when the owner has a flexible schedule (flexibility/ability to go to the property, answer phone calls, and more, all at the drop of the hat), plus has the right personality, experience, AND desire to deal with landlord tasks (scheduling & conducting showings, knowledge to avoid Fair Housing issues, telling a tenant "no" when necessary, going through the eviction process, etc). 

(if they only require 15% down on a single family home that is usually a good sign that you are working with a flexible lender) How many loans can I have with you?

Also the VA loan is really flexible when it comes to Debt to Income ratios and qualifying for mortgages.

I'm a big fan of a HELOC because of the flexibility to pay down and draw on it as needed. 

An LLC would be great because it will give you the flexibility to specially allocate income depending on your profit split ratios between let’s say 60% investor/10% sponsor/ 30% managing member.