Then I would be paying a similar price per month to what I am renting my apartment for now: $700.I think the only way I can make a property cash flow after I move out is by renting individual rooms.

An LLC can not get a conventional loan, only an individual can.

The LLP protects the members from each other, but they may still be individually liable (this is actually state specific.

I am zeroing in on potential markets based on my individual financial requirements, and I will be closing on my first property before September 1, 2021. 

Giving that up for an unknown seems more risky to me...Option 5 – You would need to be able to parcel the units out individually and your traditional lender may have an issue with this.Option 6 – Would $75k in profit fully pay off at least one of your first position notes?

If they are both living there and both over 18 they both should be named tenants unless there is some extenuating circumstances you are not sharing, so both should fill out an app and both should provide proof of their individual income.  

I recently came across a Twitter post in which the individual was looking to purchase a home in Florida in the present market in anticipation of moving there several years down the road and thinking the local FL market being even higher at that time.

Individual investments start at 75%.Next question, what is your debt structure.

Addressing the problems is like trying to put out small individual fires in a forest that is burning.

So essentially in 90% of cases you increase your costs and risk for no increased reward.