I would also highly recommend you educate yourself on New York State tenant/landlord law, especially if you plan on self-managing.

Lenders often prioritize the person’s payment history hence it is imperative that you maintain proper financial records.Good luck!

20% down payment will be personal cash that I’ll put into the LLC as a capital contribution.

Personally, I make my upgrades with resale in mind, even on a BRRR.

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.  

@Bobby Dailey - just to give a different perspective, for future appreciation of significance, I personally would not consider any of those four locations you noted (Jasper, Clanton, Eva, Oak Grove).

I've only spoken with two companies that work with housing for one person and the property that I'm looking to obtain is a three bed

Everybody gets started a little different than the next person.

I persisted and much to my surprise one day the door opened a crack and thus began a multi month journey through this man’s personal hell that eventually led to a $30,000 profit.He owned a local Jamaican bakery that was failing; his marriage was ending and his soon-to-be-ex moved out with their 5 year old daughter; and now he had lost his house.

You are the owner if you try to borrow with a LLC or if you borrow in your personal name.