Currently I have one active single family rental and have a second one closing on in a few weeks. 

Wholesaling seems easier in lower priced markets from what I have seen .On the plus side if you actually have a deal it’ll be easier to assign it since there is a lot of investor activity now and it seems everyone wants to be in real estate .

So, if the attic space was converted to a bedroom without the proper permits (to make it a "legal" bedroom and put the finished sq footage on the tax records) then they won't be able to factor that into their values. 

If the LLC is a single member LLC that chooses to be taxed as a sold proprietor (meaning it doesn't file it's own tax return and all activity of the property is reported on your personal tax return) the the IRS still views you as the tax payer for the property regardless that the LLC is the deed holder. 

He is an active investor with investment properties in Butte.

Given most of the focus here and in the networking groups are in the residential space, I have looked into setting up a Facebook group at least for people interested/working in the commercial space.

Active real estate investors open and close LLC's all the time.

Stay active on the forums, there's a lot of great info out there.

I plan on doing the property management activities, with the rationale that it's a small condo where my responsibilities are limited.   

I've been looking on line and see a lot of Pool waivers, or specific activity waivers but not a general waiver for a river situation.