You can always consider doing a cost seg study on a property that you buy and that can also help with tax benefits if you cannot qualify for the real estate professional status.

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

Let's say it's $100 a month and the cost to install a fence is $3,000.

The changes that have occurred in the past year is making sure the comps are truly there, getting the material costs down (or accurate) number with changes all the time on costs. 3.

I had few options so our cost doubled.  

Your estimate seems low, but even at that cost, it will not add that value.  

For cash-on-cash evaluation of rental properties, it is critical to identify ALL of  your acquisition costs. 

When a PM does charge a markup, he's usually getting a discount on the service to keep the cost stable.

What are you hoping to get out of the extra time, work and costs of having the LLC?

We’re considering whether to do mid-grade updates and rent it soon if we can find a good next property though acquisition and ongoing costs are a problem.