It sounds like you are off to a good start.

Respectfully,Zach The best bet is likely to create a new LLC that lays things out in a straightforward but legally strong and standard operating agreement, etc. - LLC doc sets are fairly cheap and easy to create these days (with limited assistance from lawyers) and its much much better to have that cover bases on arrangements like this - it will also fit nicely with financing options - whether you take on debt from a lender in a co-equity situation like your first plan (refinance loan to LLC post rehab?)

Questions like this and I have tailored pricing etc. etc. based on that feedback. 

The deposit remains in place until they are out and is treated like a normal termination.About 90% of tenants pay the fee.

Looking for the value add features like the 2nd lot give you options and flexibility in the years to come.

If you have a unique property somewhere with less comps, it will likely be useless in my experience.

QuickBooks - like most accounting/financial tools - is a Garbage In/Garbage Out scenario. 

I also love learning, so if anyone has any resources they'd like to list, link or just mention - I'd love to hear about them. 

Single family, multi-family, commercial, land, the possibilities seem endless and the Bigger Pockets community seems like the best way to learn and connect!

As we are just starting our initial research on which markets we would like to focus on, we came across, Shelby, NC.