I understand depreciation reduces my tax burden against any income generated from the property, but I won't have any income generated, so what's the bottom line practical application of depreciation for me in this scenario?   

Requiring a copy of the lease is standard practice for lending on investment properties, assuming someone is already renting it. 

According to them, it is standard practice to quitclaim the property back to the name of the individual to get financing, and then put it back into the LLC or other structure.

I understand now it's a seller's market and the cost is rising, but still, is this a common practice? 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Frostburg.

Purchase price: $26,000

Cash invested: $90,000

Renovated unit from SFH to 4 units.

I'm a college student at UIW in San Antonio Texas and I'm wondering what y'all would recommend I do when just getting started, I want to get my first property in the next year and a half, what advice would y'all give me on accomplishing that.

So the reason you choose to pay the lienable items yourself and back-bill the tenants so that you can be in control or any other more practical reason i am not aware?

Commercial is a heavy lift in the application stage but once the deal is underwritten, you're done, no last minute surprises because you bought a new living room set on a new credit card or made a college tuition payment :)  Also, terms can be negotiated and very favorable (extend the years or reduce the down payment for a slightly higher rate and if the numbers still work...hooray!).

Thanks for sharing @Eric Janson@Hanzel ChicasExposure to people like Eric is the way to go.Their reference points could be applicable to your situation.Build a bit of a knowledge base, practice where you can then launch your investment campaign

Flying/driving to other markets, then,is practically out of the question!