Do pay your alcohol beverage taxes if you own a bar, they're going to come after you and seize your bar and probably even non-bar personal assets.   

If it were me, I would try to buy out the current owner, and do a partnership with your money person.  

Personally I've found seller financing to be best when the property doesn't qualify for a conventional loan because of the condition. 

We personally manage all of our properties except the STR and even with a FT Property Management company we still put more mindshare and effort there.

I have a tenant who knows I am the owner, and I personally prefer that. 

Lenders often prioritize the person’s payment history hence it is imperative that you maintain proper financial records.Good luck!

20% down payment will be personal cash that I’ll put into the LLC as a capital contribution.

Personally, I make my upgrades with resale in mind, even on a BRRR.

@Bobby Dailey - just to give a different perspective, for future appreciation of significance, I personally would not consider any of those four locations you noted (Jasper, Clanton, Eva, Oak Grove).

*this post does not create an attorney-client or CPA-client relationship.