If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

If the building is currently recognized as a single family residence,  then you are changing use and presumably will need to sprinkler the building and satisfy other fire rating and STC rating requirements not to mention the added costs of having to run mechanicals for multiple units, multiple kitchens, additional bathrooms etc.  

There’s not a satisfying amount of juice in the Detroit market.

However multifamily/hotels/mall/office asset class are extremely volative and too much rate-sensitive.It's no longer even about particular syndicator, basically some of your asset class can't survive interest rate.For average Joe and Mary, best advice is just to simply put money into SPY/SGOV or direct SF home ownership.

She's one of my extreme examples, but this is a common story.

Satisfied guests aren’t just likely to leave glowing reviews—they may also spread the word to friends or choose to rebook themselves, keeping your property consistently booked and increasing your revenue!

I have seen this work in high priced markets like San Jose Ca.. where the property owner is a very wealthy business person with no time for rentals and the person they sublet to is close t them either friend or bizz associate and will work the property to make  the delta as the owner just does not want to mess with day to day and there is extreme trust.The other thing I have done personally is with the insurance companies ..

Even in New York, there are deals to be found that will satisfy the 1% rule, but that is the part that takes work.

Working with contractors can be extremely difficult as projects get delayed and there is poor communication(red flags were not present before project began).

To recap: Be extremely cautious with flat fee MLS sites that only refer business to other agents.Bonus PointsYou should also consider the ease of use of the flat fee MLS listing provider, for example, can you complete everything online?