One thing you want to avoid is making the asset to unique that it is difficult for an appraiser to comp out. 

We want to avoid letting money just sit in the bank account when we know we could be making it work for us.

AVOID LIKE THE PLAGUE

To avoid these, create an operating agreement outlining roles, responsibilities, financial contributions, and handling disagreements.

My understanding is the Padsplit’s member agreement model is to avoid such situations.

People use anonymous structure to avoid this.

It is important to factor in all the benefits of house hacking into your calculations, i.e. amortization, appreciation, income, & potential rent avoidance.

Scope creep is a huge problem and the more you learn up about the project up front, the easier it is to figure out what actually needs to be done and avoid surprises (or pass on deals that need more than you initially think): https://www.biggerpockets.com/blog/due-diligence-ultimate-gu...I highly recommend building a contingency (I do 20%) into your rehab budgets for unexpected issues.

But by putting the properties into the business name you can avoid having the debt reported to personal credit so long as the funding lenders servicing company allows for it.

Avoid investing in any city listed here: The Most Dangerous Cities in America, Ranked.Cities with a metro population >1M: Companies need significant infrastructure, which is only available in metropolitan areas with a population > 1 M.