When you say "Katy" that covers a pretty large area with a wide range home sizes as well as price points due to ages of home and neighborhood (crime, schools you are zoned to, etc.).   

Cover your butt and all. 

Whatsapp is a fantastic app for sharing vidoes, pictures, and voice messages. 

Our building company would be hired by the LLC to complete the renovations, and we would put a small markup (not as much as we usually do) on our services just to cover overhead.  

We have great tenants that more than cover our monthly PITI.- If we stay, and there is water damage... what then?

What this does for me, is allow me to have unlimited use of the funds, and only have to pay for them one time...so I can offer higher interest rates, since every time I re-use the funds it reduces the cost per use to the point where as long as the returns from that investment covers these payments, that initial cost of the loan was insignificant. 

It will also help if you can take some video and pictures of the problem. 

If you do it right (BRRRR) then you can pull all your capital back out, have your renter cover the HML costs, and possibly pull some tax free cash out. 

Unless you absolutely need to, don't take out the rents from either property until you have some working capital to cover unforeseen expenses such as a plumbing or AC emergency. 

What’s your email address so I can send you more info and send you pictures!