After I use the initial capital to create some profits in the business, I would like to pull the principal investment back into my personal funds and allow the business the grow from the profits stand alone.

@Mack MarchandHi Mack,A good starting point might be: https://multifamily.fanniemae.com/They are a major large multi-family lender with different loan programs available.Start by knowing:(1) what a Sponsor is, (2) a Key Principal is,(3) borrower requirements regarding net worth, cash liquidity and experience.

The borrower's sent in their utility bill to FCI to confirm that they are living in the property, I provided a loan mod with a new rate, maturity date and deferred principal balance with some performance milestones.

Does anyone have experience in starting an Anonymous Trust to then use as the principal of an LLC that they could speak to?

Investors in Illinois do not need a license to wholesale real estate; they merely need to be the principal buyer in a wholesale transaction.

Simply look up the business info on your state's Sec. of State site for the principal's names and addresses.I would definitely send them mail.

My plan is to cash-out refinancing the property later on next year after allowing my tenant to pay down more of the principal, and use whatever equity I pull out as a down payment for another property.

@Rick Park 20 year amm is agressive; your principal will be much lowered after 5 years, which makes the balloon refi easier.

He played poker professionally and I was an assistant principal, but we decided to embark on an adventure and take the plunge working together to start a real estate investment business. 

Here's the guidelines as they sit today (these do tend to change from time to time):How Agencies Calculate ReservesCalculation of Reserves for Multiple Financed Properties with Fannie Mae – Fannie Mae usually has a lower interest rate but higher reservesIf the borrower owns other financed properties additional reserves must be calculated and documented for financed properties other than the subject property and the borrower’s principal residence.