The family there had owed $5,400 in rent and fees.

Another thing to note is that a lot of lenders don't allow wholesale transactions or will only finance a portion of any assignment fee, so make sure you speak with your lender about that.

They pay their late fee and are back to being tenant's in good standing. 5. 

So far I have inherited 3 tenants who were there when I bought that were not on the program who paid maybe one months rent and then nothing for the three - four months it took for me to kick them out plus legal fees (Ny if its in an LLC you have to be represented by a lawyer).

My thoughts on this would be - when you're taking out all money that you have invested into a property AND the property has enough equity that any loan fees can also be covered through the refinance AND the property still cash flows, you're getting an investment with no cash of your own.  

Before you jump through the hoops and incur the transactional fees of transferring this duplex titled to yourself and wife to an LLC can you articulate the liability exposure risks you believe could impact your personal assets?

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

Quick search I did on bankrate last few weeks had owner occupied rates in the mid-5s ( albeit with hefty fees attached)

are these paid subscriptions?

It will just add expensive fees to your deal that you don’t need.