If we can safely and under the proper rules/regulations turn the basement into a bedroom, then we can refinance with a higher ARV.

What is the existing lease agreement they had with the previous owner?

This is a tough market for regulation and I don't see it getting any easier.

If you purchase a building with an existing Section 8 tenant the paperwork is pretty easy and they can do it within the same month generally.

Besides the fact that banks have certain regulations consider this thought experiment.  

I’m sure these questions already exist in thousands of other posts, but I wanted to make my first post on here as part of the switch in my mind from “I want to be a real estate investor” to “I AM going to be a real estate investor.”

Hi All,Can you point me to the best architect in JC that has lots of experience doing 1-4 family new and existing development? 

A range hood can 'usually' be tapped into an existing 15amp circuit (14/2 wiring) depending on the fan draw, as some of the Asian exhaust Hoods draw a lot of amps. 

Would this compromise whatever liability protection does exist with the LLC?

Keep in mind, as @Brian Burke stated, your LLC  members would still have to follow the syndication rules which entails for 506c - all accredited or for 506b - you must have pre-existing substantive relationship with all of them!