I understood and offered some various solutions but to no luck.So I thought, maybe I could instead simply be their investment advisor.

I have no credentials (disclaimer) but my opinion having used LLCs and LLPs (similar) for 7 properties:1) I believe it is best for an LLC or LLP to be organized in the state in which the properties reside.  

I'm waiting until I pay off my primary residence and will likely put 50% down or something along those lines.I've heard that a single family will appreciate the fastest, but has more of a hassle factor in terms of managing it.  

Tell them if it's not a good fit for them you can look toward finding a solution to part ways in a way that is fair to both parties.  

I'm a developer/ high end real estate solutions company for purchasing, selling and renting in 4 states on the northeast coast, and we are presently seeking a source for hardwood floors at discounted or deeply discounted rates.

Is there a reason why you wont use the proceeds from your primary residence refi as your down payment for the second rental? 

There's a lot of charm downtown but those MFR are laid out a little weird and could present issues with young residents.  

You can also Buy your first home and find a Deal to rent and plan to fix up both of them to move into the rental after you Sell your Residence and find another Deal as a Business Plan like me.

My name is Jeffrey Diaz and I am resident of Lake Mary, Florida.

Also, in terms of FHA, this would be my primary residence so I will be able to qualify.