Hey Laura - Looks like everyone has provided you with pretty good info!

Provide a copy of the Living Trust (a short form one) to the bank if or when they ask. 

Midterm tenants expect utilities to be provided as part of the lease.

That's the real short of it.Legal entity's such as LLC's provide no tax advantage unless investing with non-spousal partners (its the same tax, but needs to be split between the partners).My personal pet peeve is to remember that depreciation has to be paid back in taxes at nominally 25% to the IRS when you sell. 

Some reasons why so many investors are talking about investing here include:- Low inflation- One of the safest cities in Ohio- Low cost of living- Growing metropolitanToledo Investment Properties are providing investors with a uniquely comprehensive platform that makes Toledo a logical place to invest in.

Yes, additional expenses for MTRs include utilities, wifi, landscaping, consumable supplies you provide for your tenants, additional insurance needed for a furnished home, and if you are hiring anyone to help with the property if you aren't self managing.

There is a huge difference in value.Also, your valuation of the value of the structure based on potential rent does not account for the value of land, which you are not providing. 

If you have blueprints and enough information, I am sure a licensed appraiser can give you a better estimate of ARV.If I do a CMA and estimate it merely based on the numbers you provided, you are looking at an average of $3MM +/- 500K.

However, they recently provided a relatively small LOC for that purpose.

The information/opinions/Facts you have provided were awesome and gave me a very clear picture as to what I should do.