Did you feel you had any difficulty getting started with the listings compared with if you had started them with your personal account that would have been more reputable at first?

Putting a long term tenant in a property here that you are BRRRRing won't cash flow unless you plan on leaving a good amount in the deal to do so, but that defeats the purpose of the BRRRR. 

Both groups are showing up with a clear purpose, need a good night's rest and want a safe place to live close to where they work/study. 

This is what active renters look at too which is why I believe it tells a better story of what rents are currently at compared to other sources. 

Inventory has held steady at around 5-6 months for some time now, with roughly 4% more active listings on the market in the metro now compared to November last year.

To summerize, a DSCR loan, aka lite doc or business purpose loan, uses the rents you receive on the property and divided by the new loan PITI to receive a ratio.

I only ask because the main purpose of an LLC is legal protection, and if you don't have a large amount of assets to protect, say less than $1M...you may be putting the cart before the house, and it may make more sense for you to focus more on finding and closing more deals.

With permit, benefits are 1) get depreciation and other tax write off benefits since it’s a permitted investment purpose ADU, 2) probably better for resell value, 3) have a separate address and don’t have to bother sorting out mails for our legal tenant, etc. without permit; benefits are 1) no hassle to get the permit, 2) no permit fees, 3) no tax on rental income (as it is more like a “roommate”)Has anyone gone through a similar situation before?

In fact, the appraiser may not even appraise it at $280,000 even though the comparables would point to that value all day long.

Look them up and compare as you go.