You cannot afford to waste time.Just make sure your numbers are accurate otherwise you can create a bad rep among real investors. 

@Gary R Uren You ask a reasonable question no need to feel bad about that.

One experienced investor said to me that if it looks like a different LLC has owned a home every two years it's a bad sign that the property is being passed around  from investor to investor.

Sometimes large employers will rent furnished apartments for their employees coming to town on a regular basis.Also, if you believe strongly in the appreciation of the house, how bad would the negative cash flow be if you did long term rental? 

I've had some bad experiences with property managers and your advice rings true.

Some areas its not bad other areas its horrid and you do one and leave like for me I will never build in the city of Portland OR again.

that doesn't make them bad investments - i'm still buying. 

Since many residents use these basements as non-conforming bedrooms, it's too bad if these guidelines keep investors from completing this type of renovation and offering safe and affordable homes into the community.Kind regards,Michelle

I am getting nervous over potential issues with the house or the loan options, and the prospect of either being pushed into a bad deal or losing $50k in a nano second.

You will likely make bad decisions because of that.