If you are the sole heir of a rehab property, usually the smartest move if you aren't experienced is to sell it for max value, as-is, and the repurpose that money into better, rent-ready homes somewhere else, possibly closer to you. 

Aloha,Keep in mind, NO credit is usually far better than BAD credit...and credit is only one element of your screening criteria.

A quick search suggests that the trust wont give us as much protection as the LLC and we are looking for any suggestions on how to protect ourselves better. 

Thanks allI think this ultimately comes down to the following: Will your return on investment be better with a new purchase than your current return on equity for that $200K?

A better option would be waterproof LVP with a cork backing.

Return is better and higher rent potential.

The long-term numbers were always better that way.

And, especially if your goal is to build a portfolio to live off of, bad deals (and even marginal deals), will keep you from achieving that goal much more than slowing down and waiting for better deals to surface.But beyond that, I also find I get most burnt out when I am invested in deals emotionally and with time.  

I’m trying to get a better understanding of the unlevered IRR hurdles SFR / BTR investors have for value-add improvements.By "value-add improvements" I’m referring to upgrades made to a property that increase rent or purchase value, often including kitchen remodels, bathroom updates, solar and other energy efficiency improvements, fresh paint, a new garage door, finishing a basement, adding a deck, and updating flooring, to name a few.I’ve been hearing a lot of different reactions to this question the last few months.

I think it is like trying anything new, do your research, find something that looks good (nothing will be perfect and there is always something better) and just do it.