Your approach of setting up separate LLCs for each property under a holding company is a common strategy to limit liability and protect the equity of each property individually.

You can treat each unit individually in charge, I would suggest, whatever the market rate dictates.  

Hello Jedd - thanks for the response.The 3 units are currently all supplied by the same line but a plumber is looking into what can be done to isolate each individual unit from that main line.  

That's a more difficult sell.You're likely going to have to rent it out as individual rooms, perhaps to local college students. 

Each bedroom is rented out individually by the previous owner on a month to month lease.

On one document I received it states: "The individual (applicant) is mentally competent but due to age or physical infirmity is unable to manage his or her property and affairs effectively and, recognizing this disability, has requested a conservator's appointment"It also states the conservator is: "conservator of all assets of the individual's estate".What I'm wondering is do I need the conservator to also be the co-signer on the lease?

The estate resolves its own expenses and can't require parties outside the estate to pay into it to resolve the estate's debts.It is correct that she as an individual cannot take the assets, but she can use the assets to pay estate debts as executrix.

Seemingly if I made this an ADU instead of a duplex I wouldn't have to rate these walls, once again complicating the intent of the code.Just above the code section I reference one of the exceptions to fire-rated walls includes exterior walls of individual dwelling units on the same lot, which may eliminate my need to rate those exterior support walls.

Lend to experienced individuals who own other rental properties already6. 6/mo Payment Reserves: insure the borrower isn't broke and has the ability to repay your debt. 7. 100% Hazzard Insurance: make sure the borrower secures hazard insurance that at minimum covers your Loan Amount ie "replacement cost".

I created the following decision tree to simplify the process.Ultimately, the decision to use a 1031 exchange or refinance and take out equity depends on your individual circumstances and investment goals.