I'm finishing up a project in Atlanta, GA (Edgewood area) and want to make a few improvements to the backyard.

At those numbers it will take about three years for the improvement to pay for itself.  

I have not been happy with Wink since I first got it because after spending hours getting it set up, I discovered the interface with the lock we had, Yale YRD120 T1L, provided no useful features beyond remotely alerting me to a low battery condition.

The deal sound like it could be a great deal at $90k, if other properties nearby are worth $200k and you are getting $1380/month in a market that is good and improving.

But you are able to replace, and they make you stick to replacing, not expanding or improving. 

I enjoy managing my properties and tend to fix or improve things before they break and that budget usually comes out of my reserves.

You can improve your list thus wasting less time and money.

@Ken Snay - If the numbers make sense, making up-front improvements and adding furniture/decor could help give you an edge in the market.

b) move my rentals into the LLC, refinance them to 30-yr terms (improving cashflow a bit) and at the same time cashing out a significant amount of equity, as capital to buy more propertiesc) Leave rentals alone on current payment terms (not in LLC), and just use saved cash, LOC's and Biz loans to get capital to buy rentals?

Maybe they thought if there is a crisis they want to keep their assets and not decrease current loan quality.As things improve you'll probably see them come back.I had heard very early on from one friend at Wells Fargo, that they had stopped doing them.Also many of the "special" programs have stopped...like Dr.