Seek mentorship and professional advice.Good Luck!

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

In order to get a response, and validity, they'll want you to actually provide the basic filing and proposal of what you seek to change at the property/building. 

BUT, refinance/heloc/2nd mortgage appraisals do not have a contract price to help target the value you are seeking. 

REI is a great thing to start to learn about so you are pursuing something with great long-term value, but you have to know that it's not a quick road to get out of the rat race.What financially free means to you could mean something different to someone else so usually what people are seeking is time freedom.

What is the legal procedure to seek money for damages caused to the property after they vacate.

Robbie - first thing that comes to mind is renting out the rooms individually on shorter term leases (co-living model). 

Finally, accountability is key, as we take ownership of our actions and results both individually and as a team, creating a foundation for trust, growth, and long-term success.

I recommend AirDNA subscription for picking and evaluating both markets and individual properties, a little pricy, but if you are taking the investing seriously and with a long-time horizon, definitely worth it in my opinion

In other words, if one property requires a major repair, reserves from other properties can help cover the expense, reducing the need for each individual property to have a fully stocked reserve at all times.