The deadline to file for properties purchased in 2024 is January 31, 2025 for the benefit to roll forward this year..Other Important ConsiderationsThe exemption doesn’t apply to agricultural property, personal residences, or property assessed by the South Carolina Department of Revenue.Even if you missed the initial deadline, you might still qualify for partial benefits in future yearsHow to Apply for the ATI ExemptionApplying for the ATI exemption is a straightforward process, but it’s essential to act quickly and provide the necessary documentation.

We sold 3 locations that had little debt on them with great cashflow, stayed heavy in cash, our stock return was only around 11% versus 25% since we went conservative, have two projects banks have already greenlighted with no downpayment on our part using cross collateralization with other properties- built in $2.5mm equity creation in 3 years in those projects, on hold for now.  .   

For example of above, there was a person I know, they bought a house for a rental, the square footage was enough to make a 3rd bed out of a dining room, that would increase the month rent by $400.00 a month if they did that..

One thing to note when getting conventional mortgages and spouses.There is a 10 limit per person for conventional financing.You can either do 10 conventional in each person's name which would be 20 mortgages for 2 people or if you do the mortgages jointly, will only allow 10 in total.My thoughts are not to own joint assets until you are both married. 

Like @John Underwood said, your cleaner and handy person can be of great help getting things done.

Is there a point of contact person/business that handles all home investor concerns (general contractor, engineer, etc.)

Who is personally going to be liable if the guarantees aren't met?

I am surprised you found a bank willing to do this.

Instead of debates and personal opinion, look for proof https://www.ladbs.org/docs/default-source/forms/plan-check-2017/single-family-dwelling-duplex-plan-review-list.pdf under G (Interior Env) which defines the minimum requirement of a habitable room (aka bedroom or bathroom).

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.The downside of using FHA or a FHA 203k is you will need to live there, for a minimum of one year (to satisfy FHA Requirements); AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC.