Once you pass the 3-30 hour courses required in Minnesota and all the subsequent testing, you and your broker where your license will hang apply for state licensure.

Here are some helpful tips before you register with D&B and pony up all that cash.Avoid using terms like (enterprises, properties, holdings, investments) in your entities name.

Nevertheless, I was hoping to cash-out refi subsequently (to pull out my rehab costs), so the appraisal dilemma may hinder me from pulling out as much cash as I'd like.

Once you close on the property, deed your rental to the land trust and subsequently assign your beneficial interest to your LLC.If properly set up, neither your trust nor your LLC will require a tax return.

That kicks out all the subsequent mess and gives her ownership of the property.  

first talk to a good real estate broker that specialize's in land in that area.. that will give you a baseline value. and remember in CA there are millions of parcels like this throughout the state legally created lots .. that are either no buildable and or not economically buildable.commercial enterprise on 3 acres is not feasible in any fashion.

@Mindy JensenEver since the Louvre, and the subsequent popularization by François Mansart, a well executed Mansard roof is very pleasing to the eye ... though perhaps not to the pocketbook [They are a lot more work to shingle, shake, or leave].Given the inventory of Second Empire buildings in our region - not to mention Italianate and Gothic Revival adaptations - the mansard roof is alive and well.The same cannot be said of many later adaptations / incorporations of Mansard roofs (mid-20th century, 1960s/70s postmodern) ... many - or most - of which should have been forgotten (McDonalds comes to mind).

The hardest part about flipping remotely will be deal sourcing, although that's also pretty much the hardest part of the whole enterprise anyway.

Are you sure that you just the only one not in the know here and there was a "meeting " on the LLC and  a subsequent vote to further encumber the property?

@Benjamin Kanevsky If you have another source of income, it will be easier to slowly build a PM company from scratch.If you are looking to quit your day job to do PM and need sufficient income to pay the bills, it is probably easier to buy an existing company.I would definitely have some kind of corporate form for the business, and I would also recommend having an attractive website as a starting point.As you grow the company, you may consider an enterprise backend solution like Propertyware.