A Renovation Builders risk policy (if it does not include Liability coverage we do a separate Liability policy)2.

Would that be on a separate JV agreement where I would write that?

I've never been a fan of non-separated utilities, and I worry if RUBS might have some headwinds in a place like IL. 

There are probably some uptight agents out there that would hold you to that agreement but if not's not working out it's usually beneficial for both parties to go separate ways at that point anyway. 

The Triplex is in pretty rough shape, there are two units which are stacked (upstairs and downstairs) as well as a separate unit.

I will be an only owner of LLC to avoid filing a separate Federal tax return.Questions :Does it matter where do I create an LLC - Missouri or California ?  

The question is do we have/need one pro membership or each separate is there a way to have a "business" type membership in the pro section.  

Transferring a property into a Living Trust does nothing to separate the property from the encumbering mortgage. 

Each property is a separate partnership, so you do it one at a time.

Verify all expenses and make sure that the unit has separate water meters.