@Dennis M. as Dennis alluded to.. many investors got totally fubared with this outfit.

Water-based poly that doesn't add an antique amber tint is more difficult to apply well and is also more expensive than older oil-based poly, especially the high-gloss sheen variety you'll most likely be looking to use.Flooring outfits that install everything and also claims to do wood floor refinishing will typically not send moonlighting custom woodworker subs with extensive experience to your job.

Usually I like to use mom and pop outfits for repairs.

Are there ways to mitigate this risk or protect yourself, or does the technical  "legality" only matter if the unit is unsafe or not properly outfitted?

This complicates the partnership as it dilutes the value I can bring by assuming the risk.In my experience so far there are HML's that also fund the rehab and some that do not, so how is it any different in underwriting's eyes if I just never take a draw with an outfit that includes the rehab funds? 

His group does property management, and they are a sharp outfit. 

They are a nationwide outfit, but Mike has been moving and shaking in this region. 

I’m thinking about just taking on one outfit that I can Renovate and rehab all of my new projects.

At that point, you call American Pacific or a similar outfit.

Any recommendations for forming an LLC in AZ or TX - I'm referring to an atty or some such outfit to help make it happen quickly.