Budgeted in this case meaning expenses that aren't going toward immediate outflows, but rather the potential of later outflows.

I am going to put them in later today.

By doing this (and knowing the line item costs), you can walk into a home and back out 15 minutes later with a number in your head.

I am apart of a few groups on FB and I left my email on a post in the group. later in that same day I got an email from someone saying g that they are a PML. 

Maybe investigate those sooner rather than later?

Your time is better spent finding the next deal.It's good to do it a few times to better understand the project/timing aspect of the renovations but later on, I would say transition away from that.

Sooner or later we will all be where you are now; some worse and some unimaginably bad and others just fine.

You can always move in at purchase, then rent out the unit later when you purchase your next "owner-occupy".

So there are generally 2 arguments. 1) Buy as many as you can in your personal name, get an Umbrella insurance policy to cover you for liability if something happened, then deal with LLC later once you have maxed personal mortgages. 2) Always buy in an LLC to protect yourself, and learn to deal with the extra complications of commercial financing. 

But 9-10 months later they turned out not to be the best tenant and I kicked them out.