Yes, it costs money and is probably not worth it for under-7-figure assets/portfolios.

It protects your assets, but it can make financing harder.

Are monthly updates preferred as long as there is bulletproof accounting? 

As a US citizen I have an SSN, file taxes every year on my foreign employment income, hold US-domiciled assets (stocks, IRA, 401k), and I have a ~15 year credit history with a decently high score.

The biggest challenge seems to be finding lenders that offer these loan products which is where I’m looking for help from the community with recommended lenders that serve Texas.The Fannie Mae (or Freddie Mac) options are preferred over FHA purely because of the (perhaps perceived) limit on renovation funds that the FHA option provides.

Echoing some of the comments from others on this thread and adding that the LLC is purely for asset protection and limiting your personal liability. 

The customers prefer ATM, as you don't have to go to branch at business hours and wait in line, you can simply do it at 24-hour ATM.

PM: Ask them how many properties they manage in your asset class.

I prefer new Orleans, for example.  

Many people in consideration of #2, take steps to protect the assets so that Medicaid cannot take those assets like a home.