Just trying to do my DD before jumping into a deal I don't fully understand how it works.

Not to be harsh, but the mere fact that you're asking the question tells me you have little understanding of what's involved logistically and financially.

Make sure you verify the labor and material costs you are paying, I mean absolutely sure because you really do want to understand his skin in the game. 

My point to all of this is that you have to look beyond the rankings, beyond the statistics, and really dig into an area to understand it.

@John Beck your best bet is to start with local banks and credit unions who know and understand the area. 

I understand their could be some tenant law issues with that which would make a seller hesitant to agree.Otherwise, it would be very helpful if I could just put a few items in the garage while we wait to close.

I understand the liability limiting aspect of an LLC is ruined if you "pierce the corporate veil", so I want to make sure to avoid that.

I don’t understand why a lender would see this as a problem though.

Take control of the deed and understand your Aquisition Costs, Closing Costs (Realtor Commission, which to be Frank, can eat up quite a bit of equity), Holding Costs, and in regards to seller costs...

Your structure depends on your investors so it's important for you to understand what your investors goals, objectives, and expectations are.If you'd like some more information on this topic, it just so happens that my business partner and I recently did a talk titled 'How to Raise Private Money...Magnetically'.