If it’s just a cosmetic renovation and most all the other items are dated it might just look good on the surface....

I’ve had the house appraised and I’ve got over $80,000 In equity in the property, I’ve come to the realization that I can now either do a cash out Refi on it and pull the equity out and repeat the process very similar to the BRRRR process it I can 1031 exchange it and look into maybe applying the equity into a larger 15-25 unit property.

I will repeat this process until I’ve grown a sizable real estate portfolio (4-5 homes), then I hope to move into investing in larger/higher unit properties. 

We recently purchased a three-unit rental property.We want to do some renovation work immediately, and plan to conduct more extensive renovations on the property over the coming years.Currently, the water heater and the boiler furnace are located in an improperly ventilated portion of the garden unit.

Much of the cost of renovating the unit will be borne by me, and a fair amount will be now covered by insurance; the carpets have burn marks, the walls have got large brown areas, doors have been kicked in, there will be lost rent due to re-hab.

Because they dont front the renovation costs, hard money lenders require you to pay for the reno costs upfront, then reimburse you after an inspection.

They don't have any seasoning terms from our prior conversations, but we hit a few hiccups with our renovation through most of the fall so we're nowhere near close to a refi yet. 

Larger apartments are valued by the formula NOI / Cap rate. 

Recently purchased a property with (2) garage apartments. 1 currently has a resident and the remaining apartment is being slightly renovated to make it suitable for rentals.Being that I personally mortgaged the property, should/how can I set up the rental portion under an LLC? 

I then put that money toward a larger house for my growing family, but I've always been interested in real estate as an investment.