One more thing I should address:  Installing cameras inside of a residence with other tenants can be a HUGE legal violation.  

Jay, I think in a post-covid world people have so emboldened they think they can do whatever they want and face no legal consequences.

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I think hard money lender to take this risk cannot legally charge appropriately which means the law is working against you (the law meant to protect owner occupied owners from unfair loans).I agree with @Jay Hinrichs that your best option likely is to sell on the mls.  

Kyler, call your a couple of insurance companies and get a formal quote so you can take this back to the seller.  

Additionally, regarding the legal structure, an LLC seems to be the most suitable option for our situation.

I do all accounting for properties and company in Rent Manager. 

I think new builds don't really work from an ROI standpoint, but if you can find properties that have easy ADU conversions then the value might be there.I'm in MA and we just made ADUs legal by right, so I'm looking into the best ways to add value using them.

We now are looking to create an LLC and setup the necessary legal documents to protect both parties and layout the terms of the agreement.

The nuances in state regulations require an expert who understands how to expedite the process within the legal framework.