for DSCR = Annual Net Operating Income / Annual Debt-Service in a refinance deal (1) is the Annual Net Operating Income just gross rents?

All rental income should be directed to a dedicated operating account.2.

But here's the deal: paperwork is the backbone of the whole operation.

The Arbitrage unit that we operate is owned by a friend, so we probably played a little fast and lose with our agreement with her. 

The appliances are also all brand new installed this year- fridge, dishwasher, and washer/dryer.

So visiting the property could have some value, depending on your goals of the visit.I have hosted investor tours at properties in the past, where we dedicate time with our investors and the community manager to walk the property so they can see their investment, as well as talk about current operations, how the business plan in going, and allow them to meet people on the team that they invested with. 

Setting up an Investment LLC (holding) for your properties, a Property Management LLC for operations, and possibly another LLC for short-term and mid-term rentals makes sense.

Washington was the operating partner, with the land being developed for small farms, houses, grain silos, tanneries, barrel manufacturing facilities, churches, stores, etc. 

Either negotiate a good price or only pick upgrades that's necessary in the rough phase and do the upgrades with your own subcontractor/vendors after the house closes (kitchen upgrades, appliances, countertop upgrades, flooring upgrades, landscaping upgrades you can get them much cheaper without going through the builder).New construction is a winner if all things are the same. 

I then sold the “business” (equipment, name, signs, goodwill, etc) to an operator for $50,000 cash, and the operator signed a five year 3N lease at $3,000 per month.