I just felt like if I kept asking eventually someone will say yes, and they did :)@Michael Kiley I see you are part of Cleveland market, mind chatting a little?

if possible use  a conventional loan with low down payment options as  you will eventually be able to  eliminate the monthly  mtg insurance with  the conventional loan  and you cant do this with FHA loan …...if you plan to sell this first  property  in short run - then FHA  idea is OK amount to  save for rehab  will vary depending on the property the normal  down payment required for an owner occupied  3 or 4 plex  will  be larger  than for a  owner occupied  1 or 2 plex …...if buying and  financing property as  a rental  property ..the down payment  requirements are  higher

As long as you have a plan to pay the I/O payment and eventually principle (and your plan is conservative) then it could certainly work

My goal for my RE Investment Company:Mixed portfolio- 80% Single Family Rentals, 15% MF Rentals, and  5%Eventually Commercial ( When it makes Sense) First two years: (4) SF Rentals, (1) MF Rental.  

We are tearing down this house eventually and building a multifamily complex on the land.

Just toss it on the back burner or call him up and inform him your going to withdraw if it's not delivered by some set time that day.

My goal would be to eventually acquire the property, fix it up and sell it. 

Appreciate it very much.In the first option given below, when we do a quit claim on to our names,  will we be owning the property as tenants in common before the eventual sale of the property?

As far as your concerns, there should be a separate bank account for the LLC and for any withdrawal not a specific budget line item (if you're renovating), or not a recurring monthly expense (if you hold and lease out), or  maybe over a certain dollar threshold, checks and withdrawals require both of your signatures.

Not sure why they did that but ill get there eventually and looks like I may corner the uber market .