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.

@Nold R.In addition to the great post from Dave, possibly consider an option where the property is taken out of the LLC sooner rather than later and held as tenants-in-common prior to the sale, possibly setting you up in a position to take your share of the proceeds and individually purchase a replacement property via 1031 exchange. 

As someone who moved to Waco from Miami just because my wife got a senior position in Magnolia, I've met many families and individuals who have come to Waco from LA, NYC, Seattle, etc. just to work at Magnolia, SpaceX, Baylor, and some big churches in town, such as Antioch.

and connecting with local REI individuals and attending meetups to learn from experienced investors. 

Separate LLC per Property: Maximizes liability protection but adds complexity and costs with individual tax filings.3.

Break down your rehab into individual jobs, for example get a electrician for electrical work, a plumber to repipe the house, a dry wall guy to close out the walls, etc.

Quote from @Brody Veilleux: As far as I’m aware, FHA loans are only for individuals.

@Jordyn Gegg - I have a PM company that oversees all of my individual LLCs.

If individuals and/or LLCs are the beneficiaries, then it is doable. 

My contractor has one credit card for all of my individually owned buildings (jointly not multiple cards) and one credit card for the building I own in a partnership.