Maybe you can do a joint venture first in NC to test the waters and build your team there.

They are very efficient and affordable.  

If you remove the water source and clean the mold, it will not return. https://www.epa.gov/mold/brief-guide-mold-moisture-and-your-...2.

For long-term rentals, though, an LLC is generally more tax-efficient.

Later on in my investing career when I have less time to deal with the day to day I will hire a PM and have a good understanding if they are running my property in an efficient manner. 

I don't know the cost of your fridge, but my CPA would simply expense it.The funny story is a rehabbed a house, bought appliances in a refrigerator, hot water tank and depreciated the entire rehab over 27.5 years.  

I thought I'd squirrel some money away in case of a big ticket item like water heater, roof, etc. 

Run your company the way you like, but when a company moves away from their founding principles and starts to alienate their core; they usually have some rough waters ahead. 

Even if you buy it at appraised value EVERY single investor that buys at market value is under water day one if they have to sell.. transaction costs will eat into the market value..

The reason I looked at cash flow from operations divided by rental income is that it should show efficiency in getting cash flow compared to your rental income.