Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

The property then appraised for 190k which was good news since we didn't overspend. 

Quote from @Jules Aton: When I did a seller finance deal years ago on what would become a long term rental I bankrolled the rehab funds then re-financed when it was finished.

Then I work with a local insurance broker give them a valuation of the property, explain that the property is being rented and by how many people.

These estimated costs should then be reconciled back to actual costs or the purchase price.Have you had a cost segregation study performed?

Solve the contradictions and then get back to us.

I'm interested in flipping, and short-term rentals at the moment to build good cash flow, then pivot into more of a buy-and-hold/appreciation play 10-15 years from now.

I will provide more information later.The two main setups are:1- Holding company in Wyoming if I want Charging Order Protections advantages, then a Series LLC in Kansas holding my Kansas RE and another Series LLC in Missouri holding my RE in Missouri.2- Holding company in Wyoming if I want Charging Order Protections advantages, then form as many LLCs as I want inside of it, one per rental or one LLC per 2 o 3 rentals.Fees are pretty reasonable and the same as they disclosed before the appointment, on their website or youtube videos.

We can work on maximizing that revenue in the future.I doubt an out of state investor is going to have success BRRRR in Huntsville right now, but then again, every investor gets to define success for themselves. 

When you have multiple responsible adults sharing a house, if one "bad egg" slips in then you have the others renters to kick them out or report them.