You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfCreating an LLC in California would cost you a minimum tax of $800 every year.

First tenant moved out when he purchased a home and found a great tenant within the month he gave notice! 

2) Would 30-day notice +/- a week or two be sufficient?

Either way if you serve them with a notice to quit (which is not the start of an eviction, but is a necessary step to eventually filing one) you will find out which it is because if people who fall behind never get back on track in my experience. 

I would give them a notice of termination ASAP. 

I can't help but notice your expenses are highers than your ARV (after repaired value) and I wasn't sure if you are wanting people to pick apart the calculator or this specific deal. 

The registry will list how much the landlord is charging for rent, the size of the rental and how many rooms it has, plus contact info for landlords.They put a cap on late fees and that residents will get more notice before they can be evicted.

They broke the lease and fled to some other place in three days, giving my property manager a very short notice.

I thought they were not going to be but turns out the owner got permits for many of the other things I noticed.

Of course you can always invest in a different state, but it always brings unnecessary disruption when a tenant gives notice or there is a repair or major tenant problem when you are out of state.