Hard and fast rule for me no pools at tenant properties. 

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

However, unless you're doing this as part of a BRRRR strategy, you may end up paying closing costs twice and incurring unnecessary interest on the HELOC prior to refinancing.Additionally, conventional loans often have seasoning requirements of 6-12 months, while DSCR loans typically require only 3-6 months.This post does not create a CPA-Client relationship.

If there are items of value left behind, or even personal items of sentimental value, I will follow the abandonment rules to a "T" to avoid any legal issues.

Its the action of Alienation of title that creates the ability of the lender to accelerate.

Do my 3 associates need to create a LLC to be able to do these renovations or can any individual do them, as long as proper permits are pulled? 

I think demand is decent.If you're looking in a flood zone you'll definitely want to understand the FEMA 50% rule.

The closing agent would help create escrow for taxes and insurance so the P and I would go to the IRA. 

So, I'd say my wife's "honey-do list":)Regarding rental properties, it's that no matter how many processes you create to handle problems, there's always some new problem:(

Explore multifamily or out-of-state investments for higher yields.Setting up an LLC provides liability protection but has no tax benefit for you now.This post does not create a CPA-Client relationship.