My concern is with a low downpayment and high monthly cost $3844 (PITI, HOA, PMI, utilities), this would limit my ability to ever rent out to a family if they don't allow individual leases with multiple roomates.

Hi All,Having reached the 10 property limit for FNMA loans, if I refinance four of those properties with a commercial lender taking title under under a newly formed LLC, am I still able to use the positive cashflow of these properties as qualifying income, that is, if I go buy additional four under the conventional underwriting?

With delinquent assets, especially ones years delinquent, the 'collectible balance' can be very different than what is promised by a seller due to defensible arguments of Laches and the Statute of Limitations in some states.

If not, and you're asking about wall and ceilings (and it sounds like you've got tall ceilings that would require some scaffolding or similar tool) then you could look at anything from $2,500 (labor only) for a handyman to do it up to . . . gosh I hate to put a limit on what a paint company would bid, but in my market you could see up to $9,500 for this.

Hard/Private money lender's are useful for limiting the amount of YOUR that you'll burn in a deal.

So by the time I close, I’m already out of that limitation.

Your lender may have limitations on how much you can take out. 

@Jordan Moorhead, unfortunately, the financed amount exceeds the FHA loan limit for this property so not eligible for 203k.

A HELOC is essentially a high limit credit card that you pay yourself interest on.

Fleischer V Commission is one of several tax court cases, that limits personal service businesses (real estate agents, insurance sales man, accountants, architects, etc) from using an s-corp structure, because the services provided are by an actual individual and not provided from a corporation.