The basics are I would rent a number of units from the syndication LLC, would be responsible for management and expenses (ie utilities), and then I would keep a portion of the profit (basically my upside for managing the mid term rental units) and the other portion of the profit would go to the syndication LLC which now gets over market rent.

About a third of these properties are fully paid off, and we are looking to create an LLC or Series LLC for them.

The LLC under the HomeVestors franchise the whole time were up front telling me that they never inspected or lived in the home.

I did eventually form an LLC with my investor colleague referenced in my bridge loan query.

I'm also curious about whether I should start an LLC from the beginning.

What a great analogy lol Not decided on that strategy, just researching about that specific one.The main reason was because a land trust can be a co signee on a conventional loan and can help with transferring the conventional loan to an LLC later one without triggering the due on sale clause

It is also in my name and not a LLC. 

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Get a business line of credit for a single family home owned under our LLC.

He has an LLC, but I am an individual.