Very frustrating when I qualify for a HELOC but its getting stopped due to LLC vs my personal name. 

I'm the type of person who needs to be hands-on to learn and understand. 

Unemployment is ~steady at 3.8% and new unemployment filings fell 11k last week.

I mention this all because I personally recommend everyone spend several years (if not a lot longer) WORKING in real estate before trying to raise money from others.  

I am aware that NJ has a personal occupancy provision in which the landlord gives at least 2 months written notice stating that the owner would like to occupy the downstairs unit once the tenants lease expires.

It will be a DSCR loan, under your US entity or personally held.

The Title company does  a search to see if the person selling has the legal capacity to sell, to find any  other owners, mortgages and liens on the property and to identify anything that may affect ownership to the new buyer.This is all done prior to signing for transferring ownership.It is not related to doing the Lease or the Option.Yes, the option fee is used as the down payment.

It’s either that or to live with it.A side note: it might be that the owner is a slumlord, not because he/she is an evil person, but is simply a good intentioned person who doesn’t know what he’s doing.

They know how to track things, use multiple PMS softwares, file aircovers and so much more because I have personally spent years training them exactly how to do things the right way. 

At some point, it may just become personal preference.