The goal is to keep the premiums I have to pay due to lending requirements as my money.

The feedback was that combining the parcels allowed them to drop some city requirements regarding installing screening in front of the dumpsters, so it saved a small amount on construction cost.Interesting topic, but understand if you are just focusing on the deal itself for now.  :-)Sincerely Joe

Most capital providers require a 700+ FICO for a Cash-Out Refinance of 5+ units and six months of seasoning to use a new appraised value instead of the cost-based approach.

For one tenant that had a cat (inherited tenant and the only cat I've allowed), I had to soak slab with enzyme cleaner, didn't work well, then soaked in vinegar, replaced subfloor boards upstairs, replace trim all around flooring -- it's a huge undertaking requiring multiple applications.     

If you want to protect your friend's capital as if it were your own, you'd want to:1) Secure the loan with real estate in the form of a deed of trust or mortgage (depending on the state the property is in)2) Obtain property insurance binder with your lender as an additional insured3) Obtain a lender's title insurance policy protecting them (different than an owner's policy) and transfer all funds through an escrow closer or real estate attorney (depending on the state, the requirements for closing may differ)4) Use a real estate attorney who also practices private lender law in the state the property is located in.

Even with rates where they're at lenders require you to have a certain ratio on the payment of rent vs mortgage.

NathanHey Nathan,A lot of the private/Hard money lenders that I work with do not require that, so depending on your strategy it shouldn't be an issue.That sounds like great idea though, it could set you up nicely to hopefully save up for a good primary residence.Would love to connect and talk through the strategies financially if you are interested!

Most of the cash out refinance lender require me to move the property from my LLC to my name for the refinance, is that a normal operating procedure or is it a taxation nightmare to move it back to the LLC after the Refi? 

Massachusetts requires that *all* STR platforms collect both city and state STR occupancy taxes and remit them to the state monthly.

Does the guideline for a monthly rent between 0.8% and 1.1% of the property's value include power, water, gas etc.?