Handling Maintenance requests and emergencies, Handling tenant disputes, Ensuring the tenants are properly insured (if you require them to), Marketing the property, Screening applicants, Handling the security deposit return, and a whole lot more. 

Ideally, a location near a hospital or other attractive amenities is ideal.The upfront investment you would need is the Security deposit and 1st months rent, and cash to furnish the unit.

Most lawyers have said this is a security and I need a syndication, but most accountants say they set up LLCs that way all the time...

It sounds like at least some of the charges to your security deposit might be valid. 

We secured a comprehensive plan for renovations, including a quote for necessary foundation repairs.

Security for one - so put them on title as co-owner.

We secured a comprehensive plan for renovations, including a quote for necessary foundation repairs.

Our collaborative approach allowed us to secure favorable terms and confidently invest in the property, leading to a successful renovation and sale.

The Buyer agrees to use commercially reasonable efforts to secure such financing within [Number] days following the execution of the PSA.Closing DateThe closing of the transaction (the "Closing") shall occur on or before [Proposed Closing Date], or such other date as may be mutually agreed upon by the parties in writing, subject to the satisfaction of all conditions precedent set forth in the PSA.Condition of TitleThe Seller shall convey to the Buyer good and marketable fee simple title to the Property by warranty deed, free and clear of all liens, encumbrances, leases, tenancies, easements, restrictions, and other exceptions to title, except as may be expressly approved by the Buyer in writing.Property DocumentationThe Seller shall deliver to the Buyer, within [Number] days of the execution of the PSA, all documents and information relating to the Property in the Seller's possession or control, including but not limited to, title reports, surveys, environmental reports, leases, service contracts, permits, and warranties.Non-Binding NatureThis LOI is intended solely as an expression of the mutual intent of the parties with respect to the proposed transaction and does not constitute a binding agreement, except with respect to Section 9 below.

Freddie Mac, which is still under government conservatorship since the Great Financial Crisis, is proposing to buy these second mortgages on the secondary mortgage debt markets as a mortgage-backed security.