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.

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

I don't think the insurance is very expensive.  

When we requested him to cancel the loan and refund us the closing cost - he said it was against his company policy to cancel a loan - even though the loan documents do not mention ANYTHING of that sort.

The 2005 loan shows it as a first lien so I assume they cleared the history somehow but they are unwilling to share the policy.

In fact I have a no PITA policy, which means if you violate it you are probably getting a rent increase at next renewal opportunity, which might be next month if you are on M2M.

@Jamie BanksI understand there are multiple parties: 1) displaced insurance policy holder (tenants)  2) ALE 3) The company that supplies all the furniture and install the washer and dryer. 

@Kay S.Assuming you are getting title insurance (which I recommend) the closing costs will be similar to a traditional closing.

Deposits from the tenant.Security deposits from the tenant in residential dwelling units shall be deposited in a trust account with a licensed and federally insured depository institution lawfully doing business in this State or the landlord may, at his option, furnish a bond from an insurance company licensed to do business in North Carolina.