While this initial policy allowed me to secure conventional financing, I'm now in the process of planning and executing renovations to enhance the value and appeal of my home, with the goal of switching to a different insurance policy after completing the remodel and being refunded the unused portion of the escrow.

This criteria is for 1-4 and 5-8 unit programs.I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

What makes you different?

So, knowing what value YOU bring makes a big difference in how well things will go. 

Holders of those loans may never sell their house since the cost to buy a different similar house would be astronomical, and unless a move was absolutely needed, they just wont sell.

To minimize risk and capitalize on different market conditions, consider diversifying your investments across multiple markets or types of properties.

Do you think we should structure it differently?

The only type of partnerships that make sense are between people that bring different skillsets to the table, but even then: have a written agreement and a clearly defined (!)

Also, different counties and cities have different rules for house hacking.

that is the pro :-) we always forget the cons :a) current appreciation is very different right now, some CA property is getting hot but FL and TX experienced price reductionb) SF condo has depreciation, but san mateo condo has appreciation lolc) dont forget eviction, maintenance, tree falling, renter not paying, insurance increase a lot and property tax also increasethe risk/reward in rental today's market is not as enticing as 12 months ago.no more 10% appreciation with 7.4% mortgage rate.