(Unlike the popular belief many hosts have, it is not even 5 star rated properties or crazy place with $10,000 oak front door) That is why I like the STR game.

Sometimes pennies more goes a long way, sometimes more expensive does not equal better quality. 

It could provide the belief that an unpermitted unit built next month will get protected.  

Because it equals the total value of the units @ $268,750/unit so something doesn't make sense. 

In order to past this SS test, your appraised market gross rental income at 75% has to be more/equal to your monthly mortgage payment (PITIA).

My preference is that we both own the TX LLC equally.

The investors will be LPs, also want equal equity stakes down the line, even with less or minimal initial investment upfront and wanted to see if anyone has selling / talking points to justify that position. 

Price of $325k plus $50k refurbishment equals $375k.

Reserve requirements on most of the DSCR loans we provide are equal to either 3 months or 6 months of the monthly PITI of the subject property. 

I am also of the belief that if a property cannot produce $1500-2000+ in rent per month, you're just going to have a hard time covering capex.