It can be a great option, or it could be a terrible option - running your numbers as Michele mentions above will help you choose the right path.Many of us have worked with HML's, and as selfish as it is - I don't give out my best guys because they are relatively small and they might not have enough in their coffers for my next deal if they get too busy with other investors.Also many lenders work only with specific types of deals in specific geographic regions. 

I currently own a 4plex that will generate between $1200-$1500/mo after expenses, and a single family that gives me $325/mo after expenses.

Those are all just examples, but you can see how that debt service number could vary greatly between a 30yr mortgage at 5% and a hard money loan that may be 12% interest only with 1-4% fee up front.

I have five townhome condos in addition to a triplex and a larger MF.

Is there a tutorial/explanatory video available somewhere and a standard letter I can send to explain how LOs work?

Make the tenant pay, make your criteria very clear and as exclusive as is needed

than you hear them say that about Stockton, so that lines up with the above decade and a half income trend data.The assumption of course being that inflation adjusted upward income trends are the only places that inflation adjusted rent increases and real estate appreciation can come from. 

I have always said you can trip over a good electrician and a good plumber but finding a good GC is like hitting the lottery. 

Renting out rooms is fine, there are laws that permit how many people can live under 1 dwelling but if its 1 person per room it should be fine as long as room has Windows and a closet..If you're planning to do Airbnb NYC has new requirements that will take affect soon..Also keep in mind when renting out rooms in some markets Utilities are included in rent..

I don't know you'll be getting financing for your purchase, but unless your LLC is seasoned and a going concern you'll have a very tough time getting a lender to make a loan to the LLC.