Yes you can but it depends on the lender some lenders do not allow due to overlays and in house restrictions. 

Unlike Vegas, where tourism can be hit-or-miss depending on conventions or events, Florida’s Panhandle delivers steady demand every season.

If the title company requires that you become the Manager of the spoke LLC, you would have to amend the Operating Agreement, and, possibly, you will have to amend the Manager of the LLC with the Secretary of State (depending on the State).

A phase 2 may be required depending on the outcome of the phase 1.  

It will all depend what you feel comfortable in terms of budgeting and the type of repairs needed.

As noted in articles Michael noted, this may or may not have any real impact on your taxes, depending on if you have any other passive gains/income to offset.  

Depends on the lender.If it has yet to go to foreclosure and you are trying to buy it prior or at sale - the answer is a hard no. 

All depends on the interest rate on the primary home and if fixed.

So I'm guessing it might depend on your state laws and personal situation. and make sure you know of any sticky items that would eliminate the protection you get from the LLC.

I then plan to do this again or maybe 2 more times depending on the ability to stay under the VA entitlement cap.