We heard that there is a way to rollover this money into the downpayment without withdrawing the money directly and it being taxed as an income for my grandmother.

Couple questions i have regarding setting up and LLC and tax implications:1.

I was fist trying to qualify for a conventional but since I can’t verify some of my income and my tax returns are a bit of a mess, I’m going down the DSCR loan path.

It depends on your research for cost, tax benefits etc as to what the right option is for you.

And people doing a 1031 exchange up from an appreciated property saving $100k+ in taxes. 

Add another $500/mo for taxes and insurance.

We heard that there is a way to rollover this money into the downpayment without withdrawing the money directly and it being taxed as an income for my grandmother.

Just my two cents the after tax considerations are cherrys ontop.

ForeignYou have to next step give your social security# or tax ID, address where you file, AND passport, driver's license...so giving an EIN does not keep your name, address, date of birth, country of origin etc... out of the system.A tax ID leads to the filer who is a human. 

You are mixing up two different things.You will probably form an LLC that will own the property.You will then have to decide ownership percentages, who managing partner will be and who will do what.For tax purposes, you will need to decide on corporate type: C-Corp (no), S-Corp (maybe), partnership (1065 tax form).