depends what the deal is and who the lender is and what your overall picture is.The deals I work on and lenders I deal with almost always REQUIRE a Brand new single purpose LLC. 

When you have more OOS investors than local tenants, it is not a pretty picture...

When I look at SDAT as well as the home sale sights (zillow, trulia, etc), it gives me a picture of wanting to be all in for no more than 50-especially with the mostly 2 BR houses around that area.It is just surprising to me to see so many homeowners in that area-and still buying there over the years- but zero appreciation or equity to be had after you finish your purchase and rehab.

You can also talk to a property management company but they tend to paint a rosier picture bc they want your business.

Hopefully I can get a clearer picture of the process here.

One thing I'm noticing is appraisers are coming back low, I briefly listed this house at 270k and had interest, no way it was worth less than 250k based on comps.I've got a 2nd BRRRR in motion right now, numbers are a little tighter but I should be able to get 100% out.

When I first took a look at the properties, it was just the estimate repairs so I didn't take any pictures aside from a video walkthrough of 2 out of the 3 properties.

Current state: Value 240k, 3BR/1.5 BAUpstairs bedrooms are... 1. 10X12 2. 12X12 3. 12x10 A: Add a bedroom downstairs and bath =4BR/2.5BA Total cost = 4kB: Combine the Current Master and Bedroom  (See picture below) to create a master suite w/ walkin closet and bathroom.

You did not show us a picture that would effect the rental or sell value based on curb appeal and interior shape.  

All the rents are different values even though all the units are the same, 2 beds 1.5 baths. maybe some of them are in worse shape and based on some pictures, some units might have window AC units.Rent Income                          ~ $98,940          ($8245 mo)Insurance                               ~   $6100Taxes                                     ~   $7860           (Can this be reduced using deductions?)