You will need to disburse funds annually to each property LLC - but if they are all single-member LLCs this may not be required and only the PM LLC will need a bank account, etc.This is not legal or tax advice, so be sure to check with tax attorney and/or tax professional.

This is how most hard money works now Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

Also down payment required may be higher based off experience.

This would require hiring an attorney and create some long-term obligations, but may solve a number of your problems.  

Develop the plan, know how much $ is required to execute, and then start sharing the plan with those who may be interested in investing with you.  

Most lenders will require that you occupy a minimum 51% of the building in order for it to classify as owner occupied. 

Congrats - at the end of the day, learning all those lessons really require jumping in and "doing" and making the actual mistakes - no shortcuts and way to "learn" these by studying endlessly without making the leap

I have already reached out to My Real Estate attorney and he is going to be drafting the required paperwork to secure the loan against the property.

While the mix of business and friendship requires clear expectations and contracts, it offers a unique chance for collaboration with someone trustworthy.

No, in fact, in texas, a sellers disclosure is not required to be given for residential multifamilies