Setting up multiple LLC's, paying annual filing fees, paying a CPA to file 6 tax returns, 6 bank statements, and keeping each separate may mean you now need a staff book keeper on payroll.

I have 5 years of home improvement construction experience, so determining whether to write an address down came naturally to me.

My question is this: should I try and get a tenant in my rental as fast as possible or spend the upfront money to improve the home so as to have it appraise more?

I may have to wait until I close this deal to do it, however, I am genuinely working toward improving my credit so I can just buy when needed.Hard money is an option and then just hold it until the time is up but that gets very pricey very fast for each monthly payment until paid back.I have also been looking into the promissory note idea.

All my tenants are 700 + FICO for a reason, much less headaches. there you go self management in my experience is very easy I have my staff track them and all is good. 

Will you put up with roommates until your income improves in a few years?

I've looked at adding value by ways of major/minor improvements, but if you get into having to get a GC to add sqft that can turn into a nightmare.

If you can plan your rehab to convert some of the improvements into repair, then property that needs rehab can give better deductions.Also, you could potentially get to deduct the personal property such as appliance if you buy them for the rehab.

For instance, I did a parcel split recently in Pinellas County that took about one month to get ready submit to the county appraiser's office, one week to get approved (incredibly fast and smooth because all the necessary prep work and staff discussions were done in advance), and then one more month to be fully updated and reflected in county records; the approval noted the parcels resulting from the split met the minimum zoning requirements and could be considered buildable parcels, and imposed a restriction that any subsequent splits would require full subdivision site plan and platting.

The business plan is to basically BRRRR these properties, purchasing at a discount due to the properties are underperforming, we are obtaining a construction loan from a lender, improve NOI and refinance a 1-2 years down the road and then hold long term.