i do shorter amms because i want them paid off, and keep the cash flow, its one thing if you want 100+ properties, but 15- 20 paid for ones gives me an easy 6 figure income forever, and ever, and my kids lives and their kids lives if managed properly. pay alittle more now for the flexibility, and get them paid off, so what if you have to re-up in 3-5 years, interest rates wont be 10% then, and if they are inflation will drive your rents to cover it anyway, inflation is great in real estate, it means your property will be worth more,  but the purchase price was pre inflation.

Make sure whomever you're hiring follows proper safety practices, has a safety plan, proper tools, PPE (personal protection equipment), etc......especially on a demo job.  

Obviously there are other criteria the bank uses, but I'm not well-versed enough to know which are weighted more heavily than others.Perhaps some lenders / bankers can offer some advice? 

You may lose an entity to litigation as well any property it holds, but the other entities are not involved if your structure is done properly.

There ARE so many right answers to your question.I feel that you can find profitable flips in any almost any area with proper marketing, due diligence, and proper project management.  

Business wise the smart move is to get a permit and build a proper separate unit in the basement.

A good broker is worth their weight in gold.  

Good luck giving them fair weighting. 

PM are worth their weight in gold.

Har has a free class that will show you how to pull a proper comp.