The main purpose of the call was for more info on how he does kitchens but I discovered some other great info.He is using a local Philly bank, I think Bank of Port Richmond.

The purpose of this exercise is to determine which 5 or 6 MSAs to prioritize above the rest first in order to then do a deep dive on the specific area's demographics, job growth, rents, vacancy levels, and other data.

The rent approach is included on appraisal solely for informational purposes.  

Also for nomenclature purposes, "2-4", is still considered Single Family (even though you have multiple tenants). 

Having a separate business bank account can make it easier to track income and expenses for the rental properties, which can be helpful for tax purposes and record-keeping.It's also a good idea to have a separate LLC for each property, that way you have a separate legal entity for each property you own.

I know this is not the purpose of this thread, but would anyone be interested in doing a bigger pocket meet-up in SW Missouri?

I'd recommend using purpose-built property management software that has rental accounting features built in!

Every lender I know, that lends to investors requires multiple disclosures (ie legal documents) stating that you will not be living in the property, EVER, for the duration of the loan, and that the loan is B2B purpose only. 

It’s not going to be pretty. it looks like the purpose of this bankruptcy is to re-org the company and operation.

If not, how do sponsor-investor agreements typically work after a refinance (for the sponsor's purpose of holding on to the property) if the investors are paid out from the refinance?