In my experience, the cash flow may be substantially reduced (or even become negative taking into account interest rate of original loan and refi closing costs).

Having "real estate investing" or "real estate" anything, in your LLC name will surely raise red flags for banks, especially as you move beyond net 30 accounts to larger credit lines.

Sponsor takes personally accountability. 

Hi Account Closed, when talking about multifamily in Calgary, are you referring to duplex, triplex, fourplex or larger commercial multifamily?

Once you have a short list, get an account with each one and run them through the wringer to see how they really function.

Here's what I'm accounting for currently:Mortgage (P&I)InsuranceTaxesElectricWaterTrashInternetVRBO/Airbnb feesGeneral/RepairsCleaning (though these will be passed through)If i'm super conservative on my monthly rate, I will need to rent the unit 10 nights/month to break even, if I am more realistic with the rate (according to my realtor who runs two STRs), i'll need to rent it 7-8 nights/month to do so.

I'm also considering Legal Zoom for the LLC portion -- and I understand they may also be able to assist with the operating agreement.I'd also welcome any recommendations on accountants too. 

I have seen it and funded it for others or my own account.

Does it go down like a traditional mortgage (funds requested at closing, checks written, etc), or do they hand over the funds to your account beforehand so you can put the money up as if it is cash?

While you may be able to measure energy to some precision that you are satisfied with close to the point of delivery - what you will have a very tough time accounting for how those losses are split amongst your units.