This caused me a rise in interest rates and the second hit to my credit since it had to be pulled twice over the period of closing. 

You might also demand a hold harmless and indemnification agreement from the LLC and members as to any future liability arising from your being listed as a member over the period they conducted any business without you.

Putting all 4 properties into an LLC would mean that any lawsuits arising would put all those properties at risk.

There are condition adjustments, quality of construction adjustments,adjustments for certain features like extra bathrooms, or garages, or location, adjustments for a rising or falling market.  

But with the above in mind, I do think it is very helpful for the attorneys and CPAs if you and your partner have some basic understanding of the issues that can arise in a 50-50 structures.

My question arises when talking about a refinance. 

Whether you could insure is iffy at bestIf a lawsuit did arise, the seller would no doubt be named and any judgment attachable to the property as in is non homestead.  

(The courts settle the disputes that arise when the IRS classifies someone as a dealer and they want to be an investor.)

A Quit Claim Deed should only be used with deeds in lieu of foreclosure or between family members, it's is not a good way to convey title in investing matters between unrelated parties or from a business entity, there are too many title issues that can arise.

I have long term Rentals in 7 states, and occasionally flip home when the opportunity arises.