It's good that you've built that into your budget, but if this is a 4-plex then check whether the utilities are metered separately or together. 

If I do need a separate roommate agreement, do you treat roommate just like you would tenants? 

Action is what separates people who talk about real estate investing and those who are real estate investors.

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.