If they're good tenants, you may not want to run them off.

When I run the numbers using 10% for vacancy, 10% for capex, 10% for management, 10% for maintenance and repairs, $550 for landscaping, propetry taxes and insurance I expect to get at least $$2,500 in monthly cash flow. 

Once the wet stuff is gone you can use a dehumidifier, run the ac ( expensive w/o insulation, but what are you going to do) or even box fans to dry out the framing.

You also learn a lot like how to run comps and get direct MLS access which is nice.Make sure you shop around if you are outsourcing your direct mail.

The question is should we stick with electric stove or run the plumbing and make it a gas stove?

If they are not passive and are involved in running the LLC then this is not subject to SEC regs. 

Your business has to run with or without their relationships or lack their of.

Dan Butler and @douglasskipworth run an impressive property management company here in our HOT market of Memphis!

I am looking into a  4-plex deal in Pennsylvania (a market I know a lot about) that is currently a rental property but after running a cash flow analysis on it, it has a lot of potential for higher cash flow as the current rental rates are well below market value.

Whether you call yourself JoshuaMatowitz LLC or are just acting as Joshua Matowitz your still running the same exact operation.