I'd advise pulling credit and checking background even on the tenant you plan to renew - letting them know it is required to have on file for all tenants of your company (even if already present at purchase), including SS# & DL copy. 

It took some convincing and showing them that I had the ability to put the 20% down and strong credit if the FHA fell through for some reason.

Talk to a local bank or credit union

Otherwise they would be buying unless they just happen to make a lot of money and have a bad credit score due to a divorce, medical bills or poor credit management.

Thanks for your response.I would say my primary reasons for wanting to put the properties I plan to acquire in an LLC are:Personal Asset ProtectionEstablish/Build Business Credit

She has no current income.If there is any equity in the property, should would have applied for a reverse mortgage.Bankruptcy doesn't stop a foreclosure and hits the credit for several years.Should would be better off selling, taking what little equity she might have, and avoid taking a hit to her credit with a foreclosure.

I was talking to a lender about BRRRing a property using a line of credit to purchase and rehab the property which I thought would get around this since it would be like purchasing the property with cash but they are still telling me that I wouldn’t be able to cash-out refi until 6 months.

Qualified Borrowers with decent credit and verifiable W-2 and/or Tax Return income can purchase a SFD, Townhome or Condo on the following program:Purchase loan at 95% LTV up to just under $851,000 with Closing Cost paid for cooperative, pre-approved borrowers. 

Does anyone know of a company (or individual) who would do otherwise for a great deal and someone who has great credit and which would be repaid very quickly??

To put things into perspective, I have a 635 credit score (because of some unpaid student loans in the past), am in the process of re-building my credit score, but want to leverage outside capital sooner rather than later..I'd appreciate any help!