Long story short, cosmetically ugly and out of style is fine, not functioning isn't and WOOD ROT is a major no/no with FHA and VA appraisers.

As far as my lender I started with small multi family and had met the woman in charge of residential lending at my bank over the years at various local functions.

In such cases, the property should ideally function as a flip, benefiting from either market appreciation or improvements ("forced appreciation") to maximize its value. 

The limit on the line will mostly be a function of the CLTV on the property, your DTI, and the lender's risk appetite.

I was hoping to get some clarity on the rent collection functionality of the stessa/rentredi platform, versus hiring a property management company.

The search function should find them.

I was hoping to get some clarity on the rent collection functionality of the stessa/rentredi platform, versus hiring a property management company.

I just don't like the functionality of the Schlage.

That’s an agent’s function.

That comment specifically relates to the investors who believe they are better protected by having a separate LLC collect rent and perform management functions independent of the deed holder LLC.