Tax effects are also key, as some investments can save you money on taxes.

It costs about $200.

The LLC has no impact on the effective tax rates.Also if you acquire a property for the purpose of flipping, that will always be Ordinary Income, also likely subject to self-employment taxes.That particular sales event has no impact on the taxation of your normal rental income from other properties. 

Financially we could cover the cost of the homes sitting vacant after we move if we do not find renters right away. 

So if you could add some specifics, we could actually read the text and give a better opinion.But if you know the ordinance is legit and the city says so, then the only way to "get around" it is to do it illegally which could cost you much more in the end.We really try and not advocate breaking the law.

 Hello,I have 3 single family rental homes aprox net value after RE commissions-Closing costs for the total ($560,0000-580,000). these 3 are all paid off. 

Buy right and have written screening criteria.  75% of landlording effectively is tenant selection.

You forgot to put your state in your profile or your post so people would know if you are in a community property state or how much it will cost you to transfer ownership from your wife to your LLC.  

There exist several distressed apartments buildings in downtown Lisbon (1-6 units) from 300-500k needing refurbishment with an average refurbishment cost of 20-30k max per building.

Well it seems like you could just let them out of the lease, but then you have turnover costs, including time on market to find a new renter- meaning you're going to absorb loss is possibly because of this.