Hey folks any thoughts on buying an investment home in Forney texas?

Rawle Welcome to Bigger Pockets!!

Thanks in advanceVery common strategy - I would say if the LLC is buying it then make sure it is buying it and its separate from you as a person -for example if you are getting a mortgage it must be in the LLC name not yours. 

I’m sure this is an easy one but I am new to this strategy.

I found the new job the prospect was hired for (Provided me with a job letter stating the rate and date started as Sept 30) at the end of last month, shows that the LLC the prospect works for has been administratively dissolved a few months back.

If a loan via a bank requires the terms to be conventional (5% down), FHA (3.5% down), etc.

I bought a SFR with a completely built out In-law suite in the basement.

It can be a lot of work at times but its definitely not enough to live on because I don't put enough money back for the big stuff- things like say a new roof, new carpet, fence, painting building, HVAC repairs, etc.  

Do you know if it is possible to have a tax deduction for interest/profits earned on promissory notes/PML?

That waiting time will probably be shortened in the future.The winning bidder at the most recent auction has the right of first refusal to buy later years' liens at the same redemption rate.