I have utilized a cash-out refinance strategy to obtain some additional funds for other projects.

All three units are 4-bed, 4-bath three-storey houses with small own yards, garages and a common area for BBQ.

Also keep in mind non-rehab related costs such as holding costs (utilities, taxes, mortgage payments, etc) and selling costs (commissions - typically around 6% total, staging - if applicable, etc).

We have been collecting all the rental income into each LLC's respective business accounts and set up "auto-pay" payments like utilities to come from those business checking accounts.   

One common strategy for reducing taxes is using an S Corp which can help reduce self-employment taxes.

They would need at least 60 days for due diligence and would want to have all utilities inspected, talk to local authorities to see if the park is operating in compliance with all state and local rules, etc.  

The biggest thing you want to ask thats not common knowledge is the utility setup and what the landlord pays for. 

In my world, family trust is commonly referred to as a credit shelter trust which is funded at the death of a grantor.

Call tax authorities, code enforcement and utility companies3.

Does it common to receive these feedbacks from the PM?