Three small units (1 bdr/studio) and one larger apartment (3 bdr).

For instance my 90 lot subdivision at one point I had 90 legal descriptions and parcels on one master deed.. as I sold them off we just deeded them out separately.. its super common especially in older platted cities were lots might have been small like 25 X 100 and someone bought 3 of them and then built one home on all three.. some places they force merge them others you can go back and recreate the Old lots of record.. there is millions upon millions made by those that know how to find shadow plats and bring to life underlying parcels.

@Michelle SharkoAnswering questions in step by step fashion:- Is it a good thing to do or not is a personal finance decision and it depends on the person asking it, their risk tolerance which in part has to do with how this HELOC or line of credit works and how your personality fares relative to taking on new debt (a person more adverse to debt might have sufficient savings and temperament to pay down/back the debt versus a financially liberal person might get in over their skii's as).

If their credit history is sufficiently long to generate a reasonable score for them then the credit score tells you the answer! 

Quote from @Karl Kauper: In my 20+ years as a landlord in three different states, it’s my experience that the owner can screen more effectively and find tenants way more quickly. 

It would be best if you had a timeframe in place for initial reports of uncleanliness or broken items, maybe three days, but the truth is that all complaints are relevant no matter the time.

We had one tent camper group as our first guests, then have an RVer couple who are about 17 days into a 22 night stay, and three other bookings over the next month.  

In three months, you will have business, but too many people hire ghostwriters on LinkedIn and it's SO obvious it's not them.

Otherwise taking detailed videos and pictures for the contractor to get a good idea of budget should be sufficient to get a realistic budget. 

This will give you an idea of where you can be priced at with factual data rather than guessing a 3%. 3% could be sufficient but the data will help you be confident in your decision.