Would you be assuming that you are using a 6% seller assist on this too?

My idea is to occupy the guest house which I will build using a refi construction loan. 

What's the advantage of using a personal loan?

Of course I would refinish hardwoods any time I can; but I am now using a vinyl plank product that looks like wood. $1.19 (plus glue) per sq ft for product and $1.50 per sq ft for install.

What is the best way to gain capitol for my first rental property using a fix & flip hard money loan then refinance

From what Zack said it seems I might have trouble setting up a LLC anyway as I am using a conventional loan with 5% down and buying with my wife.From what you all have said it seems best to set up a Land Trust and get an umbrella policy with enough liability to protect us from any issues.

@Ken NyczajTo add what everyone was talking about with using a bookkeeper vs accountant vs CPA to do the accounting work.

Here's some info about using a land trust to transfer your property without triggering that pesky due-on-sale clause.

I have been using a ridiculously elaborate Excel spreadsheet for years, but feel a light version of a program might be better.

I actually am currently using a management company that charges $100 as a flat rate.