ask, I assume cheap its a war zone)  reno, and lock box ?

The in-place plumbing will overkill, so if over time you lock and shut down a couple bathrooms (so you have less to maintain), whatever. 

Really appreciate the words of wisdom and you sharing the challenges others have faced so I can learn from their experiences.I'm probably putting the cart before the horse here given I still have a lot of educating myself to do, especially across market analyses to lock in my strategy, until I feel fully prepared to move forward with anything.

We are looking at 40% down borrowing non-recourse with only a 20 year lock.

Insurance premiums, property taxes etc increase CAN impact cashflow, but in typically small ways and ARE PREDICTABLE because these costs are typically locked in for a year at a time!

Even with all that thats why you have title insurance for land lock situations etc. 

Based on conversations, CRE could be a great option long term but I may be locked into a lower income in the short term and the potential for earnings are more dependent on my production in the residential space.

If i buy the property as myself and then transfer the title to the LLC, it could trigger the pay in full clause.

HELOC rate's can hover between 7-10 % pending underwriting so you'd be locked in temporarily with a payment.

But Hostaway now has their own easy to use smart lock feature.