The modeling of this is actually pretty easy (see link: 42-unit proforma sample), but my model treats the pre-refi loan as I/O, but that can be updated based on your deal.

Private Money Lenders (PML): More flexible, relationship-based funding with lower fees.

Hi Everyone, I work for a investor focused Real Estate Team (Morrow Wargo Group) based around Allentown.

and are you certain that the appraisal is based on AS IS value and not subject to value (ie value after repairs)? 

Once you have a pipeline, you can refine your criteria and adjust based on what works best for your market and strategy.

I recommend finding a US-based bookkeeper who specializes in real estate and doesn't have too much on their plate.

The tenant base, on average, tends to be rougher on the properties, moves more frequently, and cannot absorb any rent increases.  

Any one of us could give you our two cents on the math of it, but only you can decide if it makes sense based on what your specific goals are. personally, i paid points on my house because my goal was lowest possible monthly payment.

For this strategy you would distribute the property to partners based on their ownership share, dissolve the LLC and then partners collectively sell the property.

If you do choose to invest out of state, the best advice I could give you based on what I have observed running a local real estate group here for over a decade is build your own team.