Your name would not go on anything, just need someone to review and advise on best course(s) of action.Also, not sure if there are nuances with California but experience with that state would be a plus as a noticed this: https://www.ftb.ca.gov/file/personal/reporting-like-kind-exc...Thx!

For simplicity, let's assume we can only build on one per year, so we would love to refinance all with some lender(s) to have more cash to work with.Can banks or lenders do combo-multi-state deals like that?

That I could take some of my inheritance and savings, around $400K total tied up in investments with TD Waterhouse, and using a portion of it to invest in a rental property(s)Currently without a job and hesitant to return to a similar situation, I'm at a crossroads.

We are also in talks with an elevator company (we have upstairs and basement bedrooms) because the FGI guidelines state it is required.

There's a very good chance the issue(s) you face have already been discussed and answered.Ask questions in the appropriate forum.

Further, LLC s have far fewer maintenance requirements than corporations due to ensure that the “entity veil” is not pierced.  

As you learn more you'll figure out which route(s) work best for you.

Quote from @Bill S.: @Jared Rollins so if I understand the situation correctly.

A house was just listed this morning for $650,000 that is livable, needs significant cosmetic updates – it looks like it hasn’t been updated since the 90’s, does not look like it needs many, if any, structural updates, and is directly in the Salem downtown area.

The early 2000's were a different world from what we know today (think Brittney or Kanye) but especially when it comes to real estate mortgages and lending.