So you decide if you want to put it in the LLC or your own name.If you do it in your own name, and live there, you will be able to take a personal residence loan and qualify for loan programs that only require say 5% down + closing costs.

Purchase price: $165,000 This was a home purchased for a family member to live in.

@Ryan Blackstone I am living in NW Arkansas and is interested to invest here.

I plan to move in after purchase and live there as my primary residence.

Are you living in the property?

Unlike an annual rental where the rent is locked in for a year, the prices and amount of vacancies have a high-rate fluctuation.If you do not live in the state than you may not be aware of SB 280.

They can be leveraged with commercial real estate loans that use the DSCR metric for evaluation; however, these are not under the “DSCR loan” product bucket.DSCR loans are for “business purpose,” only meaning that the owner of the property can not live in the property under any circumstances.

My partner lives with me, but I pay for 95% of utilities, etc. as well as all furnishings, remodel, etc. 

This is by no means to brag but I am living out my vision of being business owner, building long term wealth at a young age through real estate and having the freedoms to create my own schedule and building for the future for myself.

But you are talking essentially making three living quarters.