Your honest words of encouragement balanced with a little caution was just what I needed to hear!

There is no way to know what the house price will be in ten years, if you could every person on this site would like to talk to you about a potential property :).If this is an investment you are looking to make you need to balance all facets of it with your expectations and make them realistic.

The loan balance is irrelevant, as the shorted investor is looking for as close to FMV as possible.  

Business partner has cash and I am wondering if we can use my credit to apply for a loan but partner's cash (can be funded to me after the closing because I have enough balance in the bank) as down payment.Has anyone done this?

Flip2freedom episode 77http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/ - LISTEN TO THIS TODAY!

If rent is not paid in full by the 6th day, eviction proceedings will begin.Payments received by the landlord when there are arrearages, shall be credited first, meaning any outstanding balance, and then applied to the current amount due."

The qualification was based off my personal balance sheet, not the LLCs.

There are numerous sources out there for small balance commercial loans.  

My bank will only provide a letter with an exact account balance.

Liquid 10% of loan balance after down payment.It varies just as much with the property as the buyer on what a lender will do.