@E.

We're hoping to renovate and then refinance this home to have the cash to purchase our first investment property, ideally being a MFH.

Not an ideal situation, so I would negotiate the sale price. 

Assuming the income generated flows to your schedule E and gets sorted out in the end it may not matter. 

We have properties from NY to Miami.We were using Hanley and signed in for the free trial but the response was they were going to send somebody to get a quote but the quote was going to take about a week and we are looking to a faster response rate ideal 48 hours.Thanks in advance 

If you wanted to, you could do a video instead and e-mail the video and ask for them to respond with receipt. 

It's not an ideal investment property as such.

most lenders  will  utilize the  schd E rental income average  method  for  including rental  income for  qualifying ...if the  proeprty is  recenlty  purchase the  vacancy factor  approach is used 

@Corey FarnsworthIf the LLC is a single member LLC, it will be reported directly on your individual tax return.They would look at your individual tax return.If the LLC is a multi-member LLC, the income gets reported on schedule E. 

Ideally comps would be recently sold or at least under contract.