Quote from @Ryan Prange: You don't need separate bank accounts unless they are under LLCs, then you will need a separate bank account for each LLC.

You may be able to do one contract, however, we have run into issues with having to show a proper management contract for utilities or subsidies that we needed one that just had the one LLC on it. 

Investors who seek financing need to be aware of the DSCR requirement from lenders.

Thank you so much for your feedback.

I am trying to decide between MN Property Nerds and Twin Cities Leasing for managing my long term rental in St Paul Minnesota.This is an out of state investment for me, and I also need help with tenant placement.

Still a little confused on what is needed before the closing.

We set up our infrastructure and are very organize and thorough, and through the year we made some significant progress and went on a learning phase to get better each day and closer to our first deal.As foreign investors we have to rely on hard money which gives a less edge, and face uncertainty with contractors not knowing real pricing and such.We are constantly on the look out for new investment opportunities.The problems we are facing right now is not knowing good contractors and the high competition on the MLS.We just started learning more about off market properties and sending direct mail.We would like to hear from your experience what should our next step be as newbie investors, and if there are some foreign investors here with tips.Thank you so much guys, best of luck to all! 

Will lenders entertain an early-stage conversation about how much I can potentially borrow across a few different properties? 

If you needed to pull cash for the rehab then I think HELOC would work best to keep your rate, but if you're only refinancing to move the property into your LLC then it doesn't seem like it's worth it.

A lake town has a much lower chance of this working, but it is still a good metric to consider.