However, we'd be taking on a commercial loan before any revenue comes in the door.

Recently, we have seen an influx of bidders get loans under agreement and then after a month of due diligence (where it should take about two weeks) come back and try and fade a bid for reasons that make zero sense.I know in traditional real estate people will put an offer and then get an inspection done to try and renegotiate the price.For note investing, buyers should remember it is a very small circle of investors and if this is your MO, then it will not be long before you get blackballed For example, if a loan has a balance of $100,000 and you will pay $80,000 and the seller has a value of $275,000 for the property and your bpo comes in at $260,000 - trying to explain tot he seller you need to fade your bid because there is $160k in equity not $175k is not gonna fly.

Loan will balloon in about 3 years.

If you have the assets to validity a LLC then what most people do is either use a portfolio lender, or if using a conforming loan purchase in your name first, and then move to the LLC.- Call John Roach from Synovus Bank.

Is there anyone here in the oklahoma city area that has used an Fha 203k loan? 

It may lend you a little privacy, but folks who want to find you will just look up who created the LLC and then find you.That being said, in MO, they are incredibly easy to set up, and are not that expensive to establish (~$50 last I checked, although that may have gone up) and doesn't require any input from an attorney or tax professional (in my state)Personally, I have an LLC bc I pay myself through an S-Corporation as a realtor...the savings come out in the wash, but it allows me to pay taxes quarterly and avoid end of the year surprises.Another reason you may need an LLC is if you are investing with partners, and/or seeking certain loan types ( I know hard money lenders often require an LLC)Once again, this isn't my wheelhouse, so at the end of the day, I would reach out to a tax professional to learn moreLong answer short: in my opinion, you do not need an LLC if your plan only involves renting out your inherited home

Need to find a good hard money lender to help fund the acquisition and rehab for the property.Are we squared away financially to refi out of the hard money loan using conventional financing?

Have you looked into commercial DSCR or Fix and Flip loans?

I have a good chunk of cash available, but I want to start by taking advantage of a VA loan (0% down). 

We are going to convert our current primary into a rental, and it will likely cash-flow well enough (including capex, maintenance, vacancy etc.) to also cover the loan repayment on a $60K home equity loan amortized over 25 years.