I work full time in a town of about 3000, but would like to focus my initial efforts about 25 miles away in a town of about 50000 people. 

We bought our first rehab/flip and have initially purchased it in my husband's name.

FNMA and Freddie loans are non-recourse and typically allow borrowers to apply for a FNMA or Freddie “supplemental” loan (2nd trust deed) after the first year of the initial loan term, which is a feature that distinguishes the GSEs from CMBS lenders whose standard programs prohibit secondary financing.

Thanks for the initiative!

I feel that I have a good grasp on how they work ( the Financing structure, the funding of the Repairs into the Loan, Interest Rate, Points, Seasoning Period, Down Payment, etc. )What I'm still unsure of , is what is meant by a 5 or 7 year ARM ( as the Initial Loan that you get when you use a Portfolio Loan from the Get Go , But then after that time is up ( the 5 or 7 years ... depending on which ARM you went with ) , how then does the Financing , and More Importantly my own Personal PITI on the Property get effected, by me then having a 15, 20 or 30 year Conventional ?

I guess my initial question is more along the lines of software for book keeping. i.e expense reports for individual houses, business expenses as a whole etc.

(Craigslist, Zillow, etc.)(2) Growth Approach: For properties rented historically, use the initial rental rate and apply your county's annual growth rate.(3) Data-driven Approach: Online tools, such as the Rent Zestimate, use large amounts of data to determine price.

I'll have to take out the investment loan on my own person for now and then figure out a way to transfer the title to the LLC (not sure if this is done during initial contract, or if I just need to pay for title/search-type fees later and transfer it to the LLC).  

I've had tenants for over 4 years who initially interviewed saying they were buying a home in a year, so she might very well be there a while. 

My initial thought was to contact the owner and asking if they wanted to sell, especially as it appears to have been listed for rent for about four months.