In instances when it comes to insurance my insurance broker negotiates to remove any unnecessary requirements bank may have to lower my premium. 

New bank accounts, costs of setting up the LLC and filing every year, possibly separate tax returns, etc.Even umbrella insurance is unnecessary, but it's a much simpler option if you feel the need for additional protection.

I wanted to know is it a wise move to get a home inspector license to help me find discounted properties or is it unnecessary?

One of the best benefits of having the LLC is asset protection; however, if you are just starting out and do not have substantial equity in a home or assets you would like to protect, the LLC may just be unnecessary overhead.

I think there is more upside and freedom in MF, and it is way easier to navigate without HOA's imposing their regs and restrictions.

I would have recommended them until I learned of changes they are making.Now they want to impose the concept of "dynamic pricing" wherein the homeowner allows them to utilize an algorithim that will override the owner's list pricing pretty much at anytime.

If you lease has specifics about the monetary penalties, notify him you are imposing those.

Each contractor had many questions as to what I wanted to do with the property and therefore created unnecessary back and forth communication.

And there there are levels of features, so there might be an option that doesn't overburden you with unnecessary features.I look forward to hearing the suggestions of others, too.

The house while old is in nice condition and has quite a bit of new components (roof, boiler, hot water tank) and should make for a great rental so be we do a good job of screening tenants.By no means am I saying it is A or B class renting and the tenants are top notch citizens but it is not at the other end of the spectrum that some are imposing is all doom and gloom.