The guest became defensive and pointed out that 7 rolls of toilet paper (12 guests over 4 days) was not sufficient (lol) and they had to buy more tp, paper towels, and trash bags.

If you make sufficiently large orders they will give you discounted pricing like a contractor saving you 10-20%. 4.

entp.hud.govYou also want to make sure you run the math to ensure it passes the "Self Sufficiency" test where the unit rents must support the PITI by using the 75% and vacancy calculation. 

In other words, sufficient capital for the cash purchase of a property (plus rehab) and eventually refinancing the completed project to a long term loan.

Now, if you have used your entitlement to obtain a VA loan and it is a small amount, I believe you can obtain another loan if you have sufficient entitlements remianing and the original loan was assumed.

Buyer paid his "fees" COGO charges, so I guess that was sufficient for COGO. 

First thing to consider is if the income from the portfolio and other sources is sufficient to meet your parent's expected needs.

I expect a property lease agreement between each child series and the operating/management company (also as a child series) is just as sufficient as two separate LLCs making the same property lease agreement.My only goal is asset protection so I need to know if this approach will immediately "pierce the veil."

Where they may consider borrower’s financial state they are most considered with (1) property value, (2) liquidity of property if needed to sell quickly and (3) ability of property to generate sufficient cash flow to pay note payments.  

I am in NC and LLCs for partnerships in my state are necessary and sufficient.