The data they pull from the tax records on how much a home last sold for, often not updated, or completely wrong.

Last year my best deal came from calling the tax delinquent list.

We all do the same thing, we just call ourselves different names and carry similar but different licenses:- CPA - Certified Public Accountant- EA - Enrolled Agent - Accountant - Tax advisor - Tax strategist- Tax consultant - Tax plannerIt all means basically the same.

I understand that I need to account for taxes, insurance, and other costs—Should I go with a LML and then do a refi later on?  

Low barrier to entry, low taxes, landlord friendly, some amazing class A and B suburbs and a strong urban core. 

It's a good idea to consult with a real estate attorney to ensure everything is legally binding and clear to avoid future disputes.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

You might even want to setup a C-Corp (for tax and liability reasons as well) to manage the business with the guests and pay rent to your LLC. 

I am using the tax benefit along with the principal pay down and appreciation to offset.

There may be tax implications to that maneuver, so check with a CPA.