You need to think of that before it comes up (I know this the hard way...because I forgot).

That strategy, however, is going to take a lot more up front work than just posting a bedroom for rent for $900/month (or whatever the going rate is in Richmond) on airbnb and FF.

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.

Whatever approach aligns with your goals, I would hook up with a solid team focused on that investment strategy with the experience behind them—no need to pay your dues if someone else has and you can learn from them. 

So, you will need to stand behind the LLC's debt even though the debt will be in the LLC's name and not on your credit report.3.

If I would have bought a sustained portfolio with multiple units rather than starting with a single purchase I truly believe I would have lost a lot of money while my systems flailed rapidly attempting to catch up. 

More syndicators go out of business and wind up in foreclosure and/or lawsuits to enforce loan guarantees. 

Or would you just use the cash flow from your old unit to make up difference?

They got into escrow, and then the tenant started to create a real challenge for the seller and ended up taking them to court for performance/lot line issues on the property.

If novations are done using a broker, it's straight up CYA.