I would recommend that you collectively spend some more time on the business plan 1) If you are creating only a property management company then it makes sense to have some formality around it. 2) If the long term goal is to use the same vehicle for JV deals then it might not be optimal given you will have varying equity splits based on the deals. 3) If you are taking client money and a management fee then you are talking about a much different need.  

Costs can vary significantly.

There is an entire category of loans perfect for investors in your situation: DSCR (debt service coverage ratio), bank statement loans, asset based loans, etc. 

The differences in Building costs can vary so much, you may eventually want to get a commcercial contractor to estimate what they would charge to rebuild the structure as a backup.

You can shift numbers that vary per market when you change markets.

One trick I have used with varying levels of success is to cut the door height up a little bit to allow more air to pass underneath.

@Shelly Scruggs it varies by state and by city so here is the Maryland law I found as this seems to be the best article on it:https://www.peoples-law.org/security-depositsIf the property is in Baltimore also check if there are any city-specific rules for security deposits.

There is little homogeneity to commercial real estate when you leave the NNN single tenant arena...and even then, markets in the single tenant arena vary wildly.  

Credit will vary by situation.

The IRS expects us to track all expenses by category and capitalize any expenses that add life value to the asset.