Each room could be rented to an individual: Active Duty/Reserve/Guard, college students, young and single professionals, etc.I spoke with a highly recommended property management firm, and they said they only rent per unit, not room.

All applicants intending to live in a unit must qualify individually.

At the end of the day I realize I should go to an attorney for advice and help setting this up, but was hoping to get some initial feedback to have an educated conversation.My initial thought was to create an LLC for each individual property, and then one for each of of the siblings.  

Real estate books are a dime a dozen...one book is hard to pick, but don't pass up the E-Myth Revisited...but get the audio book and play at 2x speed...the author sounds like he could die at any moment...still a good read ;) Good luck! 

Our biggest problem with an individual PM was when the PM had personal issues -- family problems, illness, to a lesser extent, vacations  -- while I know it is insensitive to say so, our properties were quickly bottom of priority list (likely rightly so when someone is dealing with a severe family illness), but their assistants could not send payment, only the licensed PM can handle funds, so I did not get payment for quite a while even though the tenants were paying rents on time. 

I don't know how to respond to each individually so, Roman M.   

I have done property management for two individuals and when the last one sells I will be done. 

The cash-flow is still there, it depends on the individual deal and property.

The blanket mortgages are typically taken out to cover the costs of purchasing and developing land that developers plan to subdivide into individual lots.

An example of hard money is typically an individual who you do not know, who has money to lend but who is not a bank.