You place the refi proceeds into a separate bank account and wire it to title from there.

So smart to keep the 10% in separate account for repairs and 5% for vacancies and I’ll tell them that but also let them know how I go about making sure attendant moves out a new one comes in.

This is truly specific to Alabama because other states like Arizona for example require that a separate quiet title action is filed after the foreclosure action.  

There's a hedge fund with a separate securities arm and total company, that is going to enter those two in these things.

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.

FYI separate units (not attached) on one property is 2 insurance policies.  

@Stuart UdisMay I suggest that you re-post your excellent answer as your own separate post, possibly with even more content?

Now the fed is expected to begin cutting rates and we may begin to see greater separation between bank and alt. lender rates but if the fed cuts rates slowly as predicted  there is likely still a window where alt lenders will be competitive, especially in the scenario I described. 

The response might be, 'One check with both names,' or, 'Two checks split 50/50, mailed to separate addresses' or something similar. 

We are not married, so our tax returns always remain separate.