Hi Michael, I'm not sure about IN, but where I invest in OH, it varies by neighborhood.

If you are worried about out of pocket costs, see if maybe a rehab loan is an option to get everything needed done now and refinance in 3 months when everything is complete.

A great REALTOR will help you gather rental history and the cost to own and show you good sites for pulling rental projections, but you will need to do your own calculations.Everyone's mileage varies.

Fannie/Freddie (Conventional) loans aren't just about rate and transfer taxes. 

My question is: How do I properly take the interest that my LLC has put into the new LLC and give it to my person for the purposes of getting a loan from the bank through a refinance.

Texas does have specific rules regarding home equity loans and cash-out refinancing (often referred to as "Texas Equity Section 50(a)(6)"), but these don’t prohibit homeowners from using funds for investment properties.

The modeling of this is actually pretty easy (see link: 42-unit proforma sample), but my model treats the pre-refi loan as I/O, but that can be updated based on your deal.

What they will offer you is an appliance package, or closing cost help, or a low fixed rate loan. 

Purchase price: $302,500 Cash invested: $5,000 Utilized VA Loan for a House Hack for my first Rental Property.

You can allocate those proceeds any way you want - as equal down payments or buy one for cash and others with loans - It doesn't matter a bit as long as you use all of the cash and purchase at least as much as you sell.