We also have a firm policy, always enforce late fees and deliver a notice to pay or vacate on the 6th.

Make sure everyone knows a cleaning schedule, expectation for common areas, how are you splitting utilities, guest policy, etc. 

DOS or more commonly known as Event of default.Alienation of title is an event of default in most all debt instruments not usually located in the Note its in the mortgage  deed of trust etc.And along with other Events of Default  IE non payment of Insurance or tax's or waste these all give the lender the right to Accelerate the note but not the obligation..

Make sure you have the right property insurance while the property is being worked on and an investor friendly lender or local credit union can help you refinance or get a HELOC.To Your Success!

I put property taxes 6k/year on each(Even though that's way higher then what it actually is, but the county tax estimate says its around that much for each) and for insurance, I just put 1,100/year on each.If there's more info needed let me know.

 - a study on rent cost compared to ownership cost shows that virtually every large city market it is initially cheaper to rent than own (I believe is was cheaper to went in 97 of the largest 100 markets)Miami and Florida have extra concerns:- insurance difficulties have resulted in large increase in insurance costs.  

Keep in mind that your mortgage terms and insurance premiums will probably be less favorable in an LLC.

We are actively submitting LOI’s and interviewing PM’s, inspectors, and insurance agents.

I don't think the insurance is very expensive.  

Chat with them, and ask them where they find their guest (Airbnb, Furnished Finders, Insurance claims, etc).