I am a landlord with a unique SFH rental in the SF bay area, I lease out (month to month) individual bedrooms and manage the property off site (I don't live there).

@Caleb Heimsoth and @Michael Guzik if an LLC isn't created from the start then won't it be a extra time & money converting the owner on the pre-LLC properties title & docs? 

That is about the only other option if a barn door wont work...not recommending it but there are some very pretty curtains and if you mount the hardware extra wide inside the room the tenants can leave it fully open except when company comes.

If I fund the reno (during my lease period) and I don't end up purchasing the property, I will be out a great deal of money without receiving the reward of my extra investment.

Am planning on selling this property on the open real estate market and is looking for an attorney or individual to do a quite title action on it. 

The deep pockets (individuals or hedge funds) just don't go into smaller towns so you can still get deals every now and then.

I was thinking to to the stairs myself to save some extra money.

It's just going to depend on the individual broker.

I was wondering if anyone might be able to share their individual experience regarding this type of loan option?

I am strategizing for my first move into RE investments, and feel the BRRRR strategy will work best for me - starting with purchasing my first primary home and rent out an extra room until I am ready to rent out the entire house.