If its a DSCR loan it is less relevant whereas a bridge loan may look harder at your current financials to make sure you can afford the loan. 

I gave a presentation on this exact topic at the Rental Property Association of Wisconsin Annual Convention last year, and the key takeaway was that all rental strategies have their merits, but you need to know what you’re signing up for.

You need to have a look at your business.

There's no real hard and fast way or only 1 way or doing your first 2 points. your subject line suggests you're not looking to go to a large shop like a JLL or a CBRE which honestly I don't blame you those offices are usually pretty bloated.As far as monthly costs, if you are going to individually get a costar or other such license you are probably looking at $500-$1000 a month pretty easy in overhead once you have office dues, mls dues, marketing, etc. 

Houses are mostly at least 450K in the area.Thanks for any insight!

Purchase price: $137,500 ($44,000 in to the property... loan at $101,000)Appraisal: $180,000   ARV: $195,000Est rehab cost: $7,500Scenario #1: 75% LTV cash out refi at 4.25%...

Do one or 2  LLcs at the most for say a million dollars of property. 

If the HELOC rate gets out of hand, then go to the bank at that time.

Maybe concrete single-family 1-4 units depending on the price point and cash flow.Also there is no real MLS in Puerto Rico you need to find an agent for each area you want to look at.

I have not looked in any particular platform nor have I looked at the monetary return on selling electricity.