They are old enough to move if necessary, but I would prefer to avoid forcing them to do so prematurely. 

I don't want to dismiss the idea prematurely, since the benefit of being able to buy one investment property each year with only 5% down is enticing.

I know folks who have bought brand new houses, and in the first year they've dealt with serious issues like significant foundation settling and cracking, significant flooding (basement was built too close to the water table), and premature wood frame rot due to poor design/construction.... 

I'm a small time hard money lender in Pittsburgh using excel and a bit of bubble gum currently, but I'm hoping to better my processes. 

A premature welcome to Denver.

Thank you,Assuming the % rent increase is legal in the area you are investing in, raising the rent 500 to 900 dollars will make any tenant run and 100% will piss them off.Not having the ability to take a hit makes me think you might be buying prematurely, rents aside, you must have something reserved in the event something goes wrong i.e pipe bursts, furnace stops working, leaking toilets, etc. 

Not saying it can’t get expensive but to give up on a deal over it before you even know seems premature.

One of the owners prematurely signed the deed before allowing the probate process complete. 

All too familiar with this, if your LLC has a solid General liability policy then let her bump her gums about what is "owed to her".

Lastly, after touring the property we discovered a storage area with room to add two additional studio apartments.Value Add: First off, anything over 4-units we prematurely look for banks in the area that will refi specifically based off the income approach.