I do have quite a bit of paneling work which was purely for aesthetics, while other jobs were actually necessary to bring the rental into service. 

Well, at least if TC is going to contact anybody for paperwork.If its in pure in-house clerical work, such as my admin looking over my file and telling me I'm missing something, that can be done by a non-licensed person.  

If you're making a 100% pure financial decision, you'll probably be more attracted to the potential arbitrage. 

I have rehabbed three residences and flipped them as house hacks, but never purchased a building like this one that as purely an investment, so would love help on strategy and specifics. 

I'm not looking for a pure +Cash Flow property in a bad area.

If you're looking for pure cash flow then that strategy will be different. 

pure rent number is $1300?

My advice is from a purely legal perspective to insulate you and your LLCs from potential liability.

But from pure wealth building perspective, I think the math is pretty simple.If you really can not find any other investments which can return much higher than 6~8%, WL may be not a bad choice.

@Matthew GentileMy strength is as the strength of ten because my heart is pure.