Best practice is to keep a reimbursement spreadsheet. 

Two questions:Once the LLC is created, and we fund a checking account for it, can we bill the LLC for these costs and reimburse ourselves? 

If you couldn’t afford the financial loss of a paid off property burning down and not getting reimbursed, you’ll have landlord insurance.

Once all of that is completed, the tenant gets reimbursed for whatever amount you pre-agreed to either in a lump sum or over several months.

@Carson Wilcox  you cant beat the terms that you can get in Davis from.Lendinghome  ConventusLima onePatch of land.just don't send DHM 3k up front they say they no longer require that.. so we will see.. but from what many say its not really no money down as you need to have money to pay for rehab .. then get reimbursed.. so you do need money.. 

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

I want to transfer it I woll reimburse you!

While I might still push through with this deal, I would personally choose to get a lawyer involved with an iron clad contract that protects my investment in this scenario using strategy such as guaranteed lease renewals or require reimbursement in the event of a non-renewal.

Often I’ve chosen to reimburse the broker for out of pocket marketing costs in exchange for a reduced commission, i.e., commission based on total of say 36 months instead of full 60 month lease.  

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.