She is renting the apartment, not the entire property.It's very important for landlords to understand Landlord-Tenant rights and maintain control of the property.

Most importantly, enjoy the journey and celebrate your achievements, no matter how small they may seem.

The build process to include funding can be quite lengthy and difficult. 

The LLC isn't the important part, it's the operating agreement- you should defintiely hire an excellent and local attorney to do that for you.

Having good accountants will be an important item to afford scalability. 

Quote from @Derrick Roland II: "but based on my pre-approval"  This is the most important phrase of your post.Where did you get that pre-approval? 

Despite facing setbacks, including a year-long renovation process, I tackled the repairs, improved the interiors, and addressed all concerns.

I know of several excellent property managers in the North Alabama area that would service the Harvest area, including several that I've never worked with personally, but have a good rep in the area. 

If you are considering long term holding always remember to include your reserves for cap ex, maintenance & vacancy. 

Your question is one that most Chicago investors, including myself, have gone back and forth on many times.