I used that 1M to aid in one of the refinances. 

(A real nice Single Family 4/2 home in great area in Round Rock, TX)  We both have a great deal of interest to continue to add properties to our portfolio, but are taking things one step at a time, and I'd love feedback or advice on anyone who's willing to share.Furthermore, we are currently still trying to get the house rented without the aid of realtor to start (as we'd like to avoid the typical one month's rent fee) and I've read and utilize advice from other BP articles.

Part of what you're going to be selling to the bank is your ability to operate this enterprise profitably, since they do not want to be the proud owners of a multi-family outfit in short order. 

You can do a band-aid rip and evict all the bad tenants, refuse to renew leases on others, take a large occupancy hit, and then do all your massive rehab, rebranding, etc and then putting in a new class of tenants.

There are several pros and cons with these types of rentals so I'll list a few of the top ones:Pros-Steady stream of new tenants, so low vacancy (if leases kept on school schedule)-Very few issues with collecting rent (parents or student loans or jobs are plentiful)-Tenants tend to be very tech savvy which can aid in streamlining processesCons-Obvious one is added damage - I haven't had any nightmare stories yet that weren't inherited but college kids can be very rough on apartments.  

Search on the term:"Section 2205(b)(2) Aiding and abetting cemetery or real estate sales activities by unlicensed individuals". 

I think getting started earlier rather than later is always smart because it's like pulling off the band-aid.

I've seen many people advise investors to get the deed, when doing a short sale, and then get a POA from the seller - that would describe this 'The tactics, he said, allegedly included manipulating the homeowners to sign over ownership and control of the property to the enterprise.

We're a social enterprise type of company, so the family felt good about donating vs. selling.

Yes or No is not a good answer, especially from people that never looked it at HOAs truthfully and drank the No HOA kool aid on BP.