I have been seeing a lot of lenders tightening up on cash out refis and appraisals coming in lower.

It is always recommended to do it using LLC but not all types you will qualify if you don't have business with the lender or you don't have experience.Feel free to reach out and we can setup a call, I am working with multiple clients that are doing similar things in DFW.

Seems like the bank owned ones are federal national mortgage association (Fannie Mae). 

Problem is - the seller needs the cash to satisfy the mortgage + have funds to move to a new house.

Based on the financial piece, and I am not a lender, but getting rid of your Credit Card debt would be my first goal if I was in your position.

Lenders don't care if a property is on the MLS, doesn't factor in to their decision making at all. 

Chris,For non owner occ loans in CA or commercial loans if you wish to pool investors one way to do it is through a CA RE Broker who can legally fractionlize a single property into 10 or less co lenders as to thier % interest in said loan. 

My CoC return in STL is 10% now that the buildings have stabilized, it seems like the buildings are appreciating at an acceptable rate, and I have a team that I trust there (realtor, PM, contractor, lender). 

The LLC does nothing as lenders simply look on who owns the LLC. 

For private institutional lending, first-time home buyer, the most aggressive I have seen lenders in this space is 90% of the purchase price + 100% of the rehab, not to exceed ~70% of the after-repair value.