The property is indeed in another state (NV) so it sounds like that does increase the LLC maintenance/fees.

I have also told him that we would split the renovation and whatever percentage of the renovation each of us pay, then we will retain that percent in equity depending on the increase in assessed value, post renovations.

You used to be able to get rates in the 4-5% ranges, but now they are in the 7-8% range due to an increase in inflation.  

For context, land here has gone up 4x in value over the past 4 years and continues to increase as the city sees more development.

However, it may lead to higher monthly payments and increased debt.

An estimated 1.8 million individuals are projected to relocate here by 2050, increasing metro Atlanta's population by 8 million. 

The loan amount is within the standard loan limit for a 4-unit.

@John Aaron I'm guessing that you might be using the 2-T (NC standard contract), which includes default language that the contract cannot be assigned.

OR you can take a smaller loan and leave more money in the deal to increase your cash flow due to the lower mortgage payment.How do you guys navigate this?

Assuming 5% increase in appreciation each year which isn't unrealistic over 10 years it's a $275k gain in equity which is certainly a very solid upside.