Any idea what the ARV would be after you complete the minor work you outlined?

Outline a thorough comp report that will detail the rent difference between both products, and run a simple profit analysis to see what makes more sense for you based on your budget and risk appetite. 

How does this affect your provisions you outlined above?

Thank you, everyone, for the input.I actually got in touch with the bank and the helped me to find the parts of the contract that outlines possible freezes.Now I know that is the property is worth less than 120% of the loan, then it may trigger the freeze.

This is the time we need to prepare,plan and protect our selves, our families, our friends and those in our community that may need help in the ensuing months and years.This next year or so will define us for the next decade from finances, health, politics and real estate.I am preparing a website that will outline some of the steps we need to take to protect our properties right now.

When talking I would outline what you are looking to achieve (anonymity, likely tax advantages and liability protection) and ask how it should work.  

Can we just write up a contract that outlines the details of the investor as a profit participant in my single member LLC?

It is definitely a difficult decision on where to start, but I think the best thing you can do is outline your investment criteria, and start building your network. 

@Courtney Buck thanks for outlining your approach. 

As such, in these unprecedented times, my responsibility to my tenants is to provide them the shelter and services outlined in my lease.