Once the asset is paid off, the cash flow will actually support hiring a qualified professional who will make sure your LLC is managed the way it is supposed to be. 

I'm thinking the area population can't support this deal in the time frame I'm looking at.

There is no right answer here but know there are other options too.In theory, all a conventional mortgage (meaning Fannie/Freddie loan) needs is just your income to support your debts. 

Rental comps are supporting this.  

Fast forward a couple months now the work has slowed down dramatically .the main problem now is this last $33,000 draw he hasn’t hardly came at all in the last several weeks virtually non existent other than a couple guys for an hour or two and it’s really starting to get where I’m worried .the Bank approved it each time when there clearly wasn’t enough that could’ve been done on the contract i got one draw left ( I won’t sign yet obviously) I only have about 10 grand left of draw and so now I’m kind of worried because the project can’t be finished on the ten grand that’s left .

I won't be investing in the riskiest/most supportable asset subclasses such as hotels, and tilt my portfolio the ones that have historically been more stable such as multifamily and single-family housing.

I've come across a couple of banks selling foreclosed properties through quitclaim deeds and am looking for advice on how I should proceed as this would be my first time dealing with this kind of purchase arrangement.

I have been talking to a Fannie Mae lending partner and was told the area only supports 75%LTV and with the minimum loan amount, would need to appraise for over 1.33M to qualify.

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