One electrician, who had been part of a previous inspection, got back to me and provided an estimate for fixing electrical issues, including addressing the knob and tube wiring. 

In most cases xfer to the LLC without a xfer of money also provides no asset protection.

the numbers provided are 152k, I just rounded up as well, reno mistakes, 

This was part of his loan application:"The only fee charged is for the Loan Protection Insurance (LPI ) whichis charged at 2% of the loan amount and has to be paid before closing after signing our approval contract then we proceed to disbursing the fund into your provided account as soon as the loan is duly insured."

Get 2-3 in to provide you a market assessment of your home. 

Someone might google things to look out for when buying a property, see 1960 and think "well I am looking at a 1975 house", so this does not apply, when in reality, many (but not all) still apply to every property.As for testing, Cincinnati requires a pamphlet to be provided to tenants, if the house may have lead based paint.  

@Karelyn Cruz - This provides a great summary https://taxsummaries.pwc.com/puerto-rico

I have an S Corp for my real estate business, so for the past projects, I've just been keeping the money in the business account and providing monthly statements to my individual partner just so he's in the loop. 

Also, worked with Cameron at ProCo Insurance who also provided a great insurance policy at a very good premium on the home.

@Nadia BrownBased on just the numbers you provided; this seems like a good deal.