Call their insurance company to make sure coverage is still in place.

Looking at the numbers CAPEX and repairs add a huge amount to the monthly expenses.For instance, this third deal:Monthly Income: $1,100Monthly Expenses $1,134.14Monthly Cashflow: -$34.14Pro Forma Cap: 5.22%NOI: $5,215Total Cash Needed: $11,050Cash on Cash ROI: -3.71%Purchase Cap Rate: $5.73Sale Price: $91,000Closing Costs: $2,500Renovation Costs: $4,550 (5%)TOTAL PROJECT COSTS: $98,050Down Payment: $4,550 (5%)Loan Amount: $87,314.5Loan Points: $864.5 (1%)Amortized: 30 yearsInterest Rate: 5%P&I: 468.72Total Cash Needed: $11,050Property Taxes: $2,184/yr2% Rule: 1.13%Initial Equity: $12,685.50Gross Rent Multiplier: 6.89Debt Coverage Ratio: 0.93Expense Increase: 4%/yrIncome Increase: 5%/yrProperty Value Increase: 4%/yrCash on Cash ROI: YR1 (-3.71%) YR2 (-0.63%) YR5 (2.64%) YR10 (9.76%) YR15 (31.56%)Annualized Total Return: YR1 (2.48%) YR2 (22.27%) YR5 (26.37%) YR10 (26.47%) YR15 (22.20%)Total Profit if sold: YR1 ($274) YR2 ($5,469) YR5 ($11,251) YR10 ($24,701) YR15 ($70,982)Expenses:HOA: $82Insurance: $66Taxes: $182MTG: $468.72 (@5%)TOTAL: $798.72Vacancy: $110 (10%)CAPEX: $190/mo (~2.5%)Repairs & Maint: $380/mo (5%)TOTAL EXPENSES: $1,478.72These expenses are different than the $1,134.14 mentioned early on.

Do your research before setting up an out of state (OOS) LLC while being a CA resident.LLC in CA has a minimum $800/year cost/tax.You did not specify why you are looking at LLC but if it is asset protection an umbrella insurance coverage is another option and typically is less error prone. 

My recommendation would also be to get the highest liability coverage available on your landlord policy and then to follow that up with an appropriately sized umbrella policy considering all your assets, future wages and growth of both.

A standard homeowner’s policy probably does not provide coverage for an investment property, a property that is vacant or a property that is under construction or being renovated.

Syed,I would advise that you require Workers Compensation coverage as well as General Liability coverage. 

It acts as a homeowner's policy and an STR policy, and their coverage areas seems broader than other products. 

Property Coverage (internal & external)?

One thing about the analysis as actuals, is that the debt coverage is only 1.14.

@Kristen Ray - get a good general liability policy on top of any dwelling coverage you get for properties your LLC owns.