Banks can usually lock a rate for 60-90 days for fixed-rate loan products, but can create other issues for borrowers by requiring depository relationships and ongoing covenants for property performance. 

Bad in that a bubble is maybe being created or good in that people who associate with me are assimilating to what I'm doing?

Those (along with cosmetic updates) created a super cute and cozy home at a very reasonable price point of less than $180k.

This inspired me to take action and I really felt like REI was a great opportunity to create passive income and achieve financial independence.I have minimal experience in real estate (purchased a townhome in early 2017), and I would love to meet people who are like-minded and learn more from your experiences.

You're bound to create far more hassle for yourself in the long-run.

Is it best to create a new LLC/LLP for this deal to have that visibility or is there an alternative?

Let's try to create some win/win investment opportunities!

Create a marketing plan, deploy your capital to generate some motivated seller leads, wholesale a few deals and SAVE the money you make to create a war chest to go after bigger and better things. 

Employees should do work, not create it!

He is focused now on creating more cashflow.