So my second answer would be put a tenant in it. 88k gross on short term includes cleaning and utilities.

This simple house hack will be your training wheels to get used to all the moving parts of real estate (utilities, taxes, insurance, appreciation, depreciation, cash flow, etc).

Non-QM products will allow you to keep the transactions within your LLC: DSCR, bank statement loans, asset utilization, etc...

It also includes people walking in/out which results in heat loss.I recommend you contact the utility company.

If there are any unrecorded liens (ie code infractions, unpaid utilities, etc) you'll be responsible for these

Many pushing land trusts went further, incorrectly claiming that utilizing a land trust for ownership of a property would not trigger the due on sale clause in mortgage notes if the land trust itself was transferred (sold), and therefore mortgage assumptions and subject to sales wouldn’t have the threat of mortgage note acceleration hanging over the transaction.

Property taxes, insurance, utilities, lawn care/snow, debt service are all holding costs you need to account for.

You'll be the legal owner and will be collecting rental income, so I think you will be able to utilize the common strategies of depreciating the property and CapEx, expensing repairs and other property-related out of pocket costs, as well as interest on the mortgage loan. 

However, after talking with a few people it sounds like we may have to also refi one of the properties (or both) as investment properties if want to still be able to reap the benefits of the low down payment conventional loan we've been using. 1) Is there a limit to how many times you can utilize a conventional loan if we are doing live in flips i.e. considered our primary residence?

Are you including all the utilities?