Sale Price compared to List Price has quickly regulated up to no noticeable difference between what a property is listed for and eventually selling for on average.

I work in restaurants operations management and would eventually like to get out of the industry. 

Additionally, can you eventually do a BRRRR refinance with a traditional mortgage?

Ultimately what the LL wants to know is that they have a tenant who’s going to start paying rent eventually and that they will stay for ideally long time. 

Trying to cover all eventualities...

The property is in California, so the children will get the benefits of a locked-in property tax assessment value that is at least half of similar properties ($27k), and when the children do sell, they will get a step-up in cost basis for ~$1.6M on the eventual sale.  

Eventually these children will move out and there will be only one or two adults in the home. 

Eventually they will move anyway so why put up or deal with someone who wants to go.

I recently set up an LLC to manage and eventually take ownership of the property as soon as possible but I am assuming my lender will not allow that without refinancing with a higher down payment/interest rate.

Definately my end game would be to eventually own rental properties.