Again, the LLC does nothing except own public securities.Here is the relevant language:Exclusion From Partnership RulesCertain partnerships that do not actively conduct a business can choose to be completely or partially excluded from being treated as partnerships for federal income tax purposes.

It sounds to me like they could have an attorney in their ear, and they believe they can force so much more out of you.

Sounds like internal accountability is really important to you!

After we completed their intake application and began the process, Austin handed us off to other staff.

What would the rents be for the duplex after the rehab is complete (assuming both tenants are paying rent)?

The resources and books you mentioned, like the BiggerPockets Ultimate Beginners Guide and The Book On Rental Property Investing, sound like excellent starting points.Prioritizing financial stability and eliminating debt is crucial, and I agree that a solid financial foundation is key to successful investing.

Sounds like the property is in Memphis, there are a ton of PM companies out there who will do this for you.

Thank you @Michael Dumler that's really sound advice.

It can take a year or more to complete an ADU.

Sounds like you have the motivation & ambitious but precise goals.