They had no common sense what so ever.  

I’ve never had this specific issue but mistakes like this are pretty common. 

Besides reading and listening to podcasts, my wife and I attend a local real estate investor meetup that has been extremely beneficial. 

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

No - absolute max for DSCR is 85% LTV and that is extremely rare and typically not workable in this rate environment anyways.Standard/common max is 80% (acquisition and rate-term refinances) and 75% Cash-Out Refis

Should I try to make the deck on the second floor a common space or as part of a large bedroom?

I also advertise before someone moves out to get a new tenant before the current one leaves. 100% occupancy on a LTR is very common for me.No idea on a MTR.

Quote from @Gary Abrams: Software is a common question on BiggerPockets.

One of our MTRs is in an area with extremely low supply that we've had a waiting list for it one summer.

The new pref equity is given priority to the original pref and/or common equity.