I had similar with duplex and ended up having to foot the bill but it was determined the break was on my property and resolved with yard excavation and a fat repair bill. 

Wondering if anyone has any recommendations for a normal investment property refinance.

Quote from @Havital Miltz: Normally you would set the LLC in the state where the property is.You have no tax benefits for setting up an LLC, it is more a protection from lawsuits and going after your personal assets, however not a guarantee....As a husband and wife you do not need to set up a partnership - IRS has special considerations for married couples for self employment, you could also apply that for a rental...Hope that helpsA joint venture is available to any 2 people co-owning real estate for investment purpose as tenant in common  under Proc. 2002-22 (unrelated to marriage) but it can't be owned in an LLC together. 

3X is a GREAT entry for most as long as it's not a sinking ship or with crushing overhead and miniscule margins. 4X-7X is a normalized range for acquiring many different business's.  3X earnings?  

End of the month disbursements are pretty normal for Columbus.

You most certainly are starting on the right foot, and have reachable goals set. 

However, you must have reasonable limits and hold to them.I give a great example in my book where a tenant abandoned a 2,000-square-foot home full of nice furniture, expensive jewelry, a brand-new $2,000 rifle still in the box, etc.

The original goal, rightly or wrongly, was to maximize rentable units, so we rebuilt the main house from the foundation up into a 3 bed 2 Bath 1,600 sq foot main house, and added a 600 sq ft 1 Bed 1 Bath JADU, along with a 1,200 sq ft 3 Bed 3 Bath ADU.

Investors normally want deals. 

Was there a date by which the inspection had to be done by (normally within 2 weeks)?