Michelle Watt yes, you've essentially answered your own question.

The rehab essentially gets "deferred" until a later date.Since most of what I need to do to this property is outside the house, it would give us some cash flow and let us do the exterior stuff a bit at a time around our busy schedule.

My thinking behind using all of my own capitol upfront was that we would be able to cash flow more per house because we would get lower rates than hard money and also not have to pay PMI...while essentially using none of our own money after the refi.

There is an entrance that essentially could be used as the initial entrance and one door could lead downstairs and the other lead to the main level. 

I have some few questions on the subject so please help me understand certain things:a) What are essentially the differences on your taxable rental income when you file as a sole proprietor and when you file taxes as a LLC.

Essentially, profits are tax free.

@George AllenOnly thing with a land trust, this essentially locks up the property and does not give you flexibility?  

I'm most excited to learn how to do my own repairs and definitely plan on doing a good portion of the work myself - the knowledge gained from that is essential. 

Essentially the east coast.

if values drop so will taxes, and you can deduct based on loss value, your rents will maintain with very minimal hit so hacking a hold is as strong of performance as you can get id look at cashflow over appreciation as you could essentially live for free if you do it correctly