Remember to back it out as a business expense too which should make the real rate a point or two lower depending on your tax bracket.2) For securing loans, I incorporate the value stated on balance sheets within my personal financial statements.

I agree with @Erin Spradlin - I think if you can confirm/convince potential tenants that there is plenty of on street parking it is not an issue, but if it is in a busy neighborhood where finding parking could be difficult I think adding the parking area would help a lot.

They won't be advertising online because they are already busy.

That would fill in the daytime and nighttime traffic and keep the building busy which would attract higher paying tenants for all of the other suites.A mural is a part of the plan.

Either way, the answer will lie in if the deal makes sense and makes you money. 

I you are switching to doing BRRR, then I think staying close to home makes the most sense so you can stay in control of the process. 

contractors are busy and like to stay within a certain range so recommendations will be based on where you are.

His reasons were: a) he can borrow capital improvement budget, thereby not diluting LP returns and b) he could not underwrite yield maintenance.He continued to imply that his business model will remain short term holds (under 5 years) so this debt works for him and is better than fixed rate.My question to this community: would you still be willing to invest with an operator taking out floating rate debt in today's world?

As I need to register this business with the state and county, should I need to register LLC as "531110 - Lessors of residential buildings and dwellings" (NIACS code) or something else?

To your question Why in the area, with no experience in it I thought starting local would make sense.