It's usually the member/borrower's creditworthiness that is the issue and interferes with approval, not the LLC. 

They are usually fixer uppers howbeit not in terrible terrible shape.Are you focused on townhomes like this one in Edgewood: https://www.realtor.com/realestateandhomes-detail/1312-Acorn...? 

In a small town or out in the county usually 3 miles is the benchmark.  

They will provide this information when you register for the auction and it is usually available in the listing as well. 

When they move out and i paint over the spackle repairs it is usually undetectable. 

Quote from @John Mason: @Abigail Katherine Grier Welcome  to BP where you will find great investors and advice usually:)There are groups likehttps://www.meetup.com/impacttyler/Hope that helps Thanks so much! 

Since you put 5% down and the appraisal came in at $160K, your available equity might be limited since banks usually cap HELOCs at around 80-90% loan-to-value (LTV).

They will ALL try to up your rates, but you can usually mitigate the amount of the increase with a new 4-point and a call to your agent.If my carrier changes because my agent found a better deal, they typically want to come inspect. 

Quote from @Gregory Wilson: Natalie, I don't usually want to debate what are usually opinions, but this needs some correction.First, as stated above, tax audit issues are about 7th on the list of reasons to have every rental property in an LLC.

My thinking is very rarely at the subject level, usually at an "if then" level and this is what it conveyed to me.