Then later on down the line (1 year I believe is the time required for a owner occupied loan to refinance) once the property is Renovated and Rented out, I then refinance and pull some of the equity out of the house's new ARV and pay off my private money lenders?

Private lenders, hard money?

As a PM, that doesn't make sense for a residential property for most/all situations.I want to align the owners (my client/customer) goals/success with my own.  

Or would I be better off just borrowing the full 560,000 from private money - is traditional lenders not even possible with a bad credit score right now?

Check city laws, but submetering water is normally okay by terms of the city, as long as its public water and not a private system. 

There's a difference between hard money lenders and private lenders as well.

I don't even have an ATM  ( one of 4 people in America who does not).. there is no 800 number.. customer service is your private banker.. we send 2 to 10 wires a day and receive (hopefully 1 to 5 those are payoffs) and our banker will make memo's on our bank statements so our bank statements are customizedIE there will be a credit then there will be # 41  we know project 41 paid off.. very very transparent for my partners they can follow the company just logging into the bank account..

You get your cleaning fee, and the customer sees a discount for additional nights. 

Best way to raise capital is private money but you need to develop a relationship first and show them deals that you partnered with your parents with.I wish I had started at your age.

So far, it's been working pretty well and some of the features I've really appreciated are the custom workflows, ability to prioritize tasks, and ways to link tasks.