So I finally have the second rental unit. I did a live-in flip, house-hacking a double on VA 0% down loan, etc. Knocked it out of the park, now moved into a new primary home, keeping the double for rentals. Question is this:
If I move the rental property into my LLC, start dumping rents into its bank account and make payments from its bank account to keep transactions separate from personal (for write-off, clarity, etc.), how will the bank see that I *personally am making that money when it comes time to finance the next purchase? Seems I will need the rental income to justify taking on new debt. For instance, qualifying for the mortgage on this house used 75% of the rents on the double by nature of the leases we had on it, but they are in MY name, not the business. I don't really want to continue using personal name and monies, but I don't understand how to qualify in the future if not.
Good advice welcome!