I feel this gives me the flexibility to find the right solution for my client and not just sell what my bank offers.I'll also throw in my 2 cents on common differences I've seen in my career:CDFIs - Because of their subsidized financing structure, they have the ability to be a low cost lender (and sometimes provide grants).

Real numbers- purchase 907k,rehab , closing costs, soft costs, 840k, all in 1.747 mil, basis for each unit should be roughly 291kappraisal of each unit minimum 400k , so 2.4 mil if for all 6.I might refi only 4 out of 6, that will cover initial loan amount.

If you own 25% or more of any LLC you are required to register with a FINCEN ID for beneficial ownership by January 1st or you could be subject to $500 per day fines.Have you taken care of business?

One your loans will be a higher interest rate, next you will have annual filings, the cost of a registered agent every year, and items like that. 

If you discovered the issue before paying for the appraisal that could hopefully save some costs (in case the appraiser is with the wrong AMC).Pre-vetting with the lender on rental history/AIRbnb/1007 as well as seasoning could help. 

A friend of mine in Austin once negotiated a partial buy back option when the seller realized they might want back in if the market soared.. from what I read in Bloomberg, that approach can work well if both sides trust each other.If the tenants’ rent covers your carrying costs, that’s a nice cushion, but you still need to clarify that buy back clause.

The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal.

I look at it through the lens of dollar cost averaging my real estate investments.

Typically, we see anywhere from $600 to over $1000 per unit (maintenance and turn costs)  depending on these factors. 

You have to walk these properties, understand where the hidden costs are outside of the spreadsheets, and understand the geographic appreciation trend and migration and population as well, none of which will be in the questions you are asking.