Pre-approval for loans is essential, as is learning landlord-tenant laws to manage effectively.

@Elizabeth RossFor properties under 100k you will likely need to use the BRRR method as its difficult to get a 30Y loan on a properties valued under 100k.

Quote from @Dina Schmid: You can sell anything you want, but that doesn't mean it will qualify for a home loan or be accepted by a building inspector. 

.#2 Keep an eye on interest rates based on what the loan officers proposes. 

Most residential mortgage lenders that I work with max out their LTVs on primary residences at 70%, which would mean a loan of $336k.

or in the 700's because most people think they have perfect credit.You also have to know occupancy type like primary, vacation, investment, how many units, LTV/CLTV, Term, Fixed or Variable, Prepay or No prepay, Loan size etc.

In my experience, you are thinking through this correctly.I've heard lawyers say, if the loan is in your name (which it has to be for conventional) and the deed is in the LLC, you aren't treating the business as an independent entity and in a severe lawsuit, the corporate veil is pierced and the LLC can be thrown out.I agree that one of the best defenses is to run your properties well. 

That way you avoid using a lender and do not have to pay lender or loan officer points.  

The property is in a B-class neighborhood, and while I’m comfortable managing coliving setups, I’m curious about any potential nuances around refinancing and insurance for this type of property.Are there specific loan types or lending policies I should know when refinancing a rent-by-the-room property?

Then a Civil Engineer, an Appraiser to determine what having a four unit would be worth, then a loan using the evaluation.