@Dustin Morgan , I look at this similarly to an investor buying a property "subject to" existing financing, I.e, assuming debt.

Two years ago we actually put 80k cash into an existing property of ours to bring the Loan to Value Ratio to where we could refinance a 6.5% interest loan to a 3.75% interest loan.

@Steve Babiak @Hattie Dizmond In your equations you guys did not account for the existing loan mortgage on the property.

I originally acquired my properties in the early days just before the housing market bubble when no doc loans and easy financing existed. 

That should make up for any "credibility gap", should one exist.

Let's suppose I go with an LLC; would it already have to exist before I purchase a property?

The house is a 1960's era split level with 3 beds and 2 full baths, however there was no existing master bedroom.  

Another way to save a ton of money is to reuse existing foundation therefore saving $14,000 in demo costs and foundation rebuild costs and permitting etc.

I heard piggyback loan is no longer existing legally...Not sure about the promissory note option either..Please advise.Thanks,Terry

We invested all of my income into 2 pure rentals before we were transferred again.We use our transient military career to invest in personals because they have 1) cheaper down payment 2) Lower interest ratesWe live off of one income (my husband's) using mine when it exists (it can take awhile for me to re-establish myself in a new area) into  pure rentals.Because of our transient life style causing home to be "relevant" to the current set of orders.