They're pretty easy, and honestly even easier than LTR acquisitions since you are not reliant on the appraised market rent (when using AirDNA to qualify). 

The appraiser. 

We bought for 200k I know there is a good bit of equity but didn’t get appraisal (~350k).

Total costs to date for Phase 1 and Phase 2: Just under $700K.I am getting the existing home appraised and expect that to come in at $550,000 to $600,000.

The sq ft mentioned by the builder was 2050 but the appraisal came back with 2233 sq ft.

The appraiser came in and appraised it as a 2 bedroom and called the 3rd bedroom as a "Den".

For example, if I bought a $100K home and, in the appraisal, the land is worth 10K, and the property is worth 90K, then 90K / 27.5 = $3,272 in annual depreciation. 

I've been collaborating with what I believe is a virtual assistant to coordinate the appraisal and inspections for a few months.

Learned a lot about the process while property is under contract (coordinating home inspections, appraisals, getting documentation to the lender, etc) I should have locked in my interest rate two weeks ago before they shot up recently!

(vii) would seem to indicate that you'd be acting as an unlicensed broker.(1) "Broker":(A) means a person who, in exchange for a commission or other valuable consideration or with the expectation of receiving a commission or other valuable consideration, performs for another person one of the following acts:(i) sells, exchanges, purchases, or leases real estate;(ii) offers to sell, exchange, purchase, or lease real estate;(iii) negotiates or attempts to negotiate the listing, sale, exchange, purchase, or lease of real estate;(iv) lists or offers, attempts, or agrees to list real estate for sale, lease, or exchange;(v) auctions or offers, attempts, or agrees to auction real estate;(vi) deals in options on real estate, including a lease to purchase or buying, selling, or offering to buy or sell options on real estate;(vii) aids or offers or attempts to aid in locating or obtaining real estate for purchase or lease;(viii) procures or assists in procuring a prospect to effect the sale, exchange, or lease of real estate;(ix) procures or assists in procuring property to effect the sale, exchange, or lease of real estate;(x) controls the acceptance or deposit of rent from a resident of a single-family residential real property unit;(xi) provides a written analysis, opinion, or conclusion relating to the estimated price of real property if the analysis, opinion, or conclusion:(a) is not referred to as an appraisal;(b) is provided in the ordinary course of the person's business; and(c) is related to the actual or potential management, acquisition, disposition, or encumbrance of an interest in real property; or(xii) advises or offers advice to an owner of real estate concerning the negotiation or completion of a short sale; and