I was waiting until I had a good scenario/question to pose to the group before I made a post so here it goes.I've been speaking with a client of mine who wants to sell his SFH in the Spring area.  

Commonly seen in the car parks of shopping centers.

But he has a $75,000 lien on the property, any suggestions on what to do in a scenario like this ? 

(however this mirrors the college grad scenario of if every job requires 2-3 years experience how do you ever get a first job) And even if you could separate the LLC from you personally, how would the LLC's DTI every qualify?

I understand they are two different scenarios for two different positions.

If the LC has not been recorded (common) in most places you don't have to foreclose if they don't make payments, but can just evict, a much quicker procedure.

I'd mitigate the worst case by not going over $150K on purchase price.Also, it looks like you have some money, so even in worse the worst case scenario, you could sell and sustain a loss without sinking.In the expected case you will invest about $200K and earn about $20K, a 10% ROI.  

I also have a friend who is very serious about this as well and is interested in going in together.Do the same as the scenario above but instead of a conventional loan, put 3.5% and go the FHA route. 

What would be a worse case scenario if a lender was to approve me for a loan?

Roofs are a common issue in Texas.