Do I create an LLC to own the property and use a quit claim deed to transfer ownership?

Unless you have some freakish "claims made" policy, the canceled insurance will cover you as you were insured at the time of the incident. 

It's relatively outdated as it's a '97 house and apparently code has evolved in the past 25 years.For one, it claims the Electrical Panel breaker box cannot be in the master bedroom closet (which is where it's located) nowadays and there's no outside shut off valve.

She sent me a screenshot of an airbnb convo where she is apparently trying to get me banned for god knows what(airbnb suspends hosts for false claims all the time).

My client is still on the fence and has not yet moved forward with a new-unit reservation--but he wants unrealistic 30% CCR returns (at least for Utah).3.  

You will likely run into some agents that will claim it is illegal but they're just likely uneducated about the space and have a bad stigma about wholesalers.  

Actually I almost spit my coffee out this morning as there is a guru in the "pick what I am selling today space" who claims to make close to six figures a year in passive income and was saying they made their money from investing in notes - and I saw them make a post today that "this is the reason I no longer do notes" in another thread.

They claim to have done routine inspections, but I was never informed of this water intrusion issue.

For restaurants, rent should ideally be under 10% of gross sales, so I believe $5,500 a month is fair.The seller doesn't have a rent roll or strong financials, and his tax returns are 50% lower than his claims.

(If you live in the property so that you can claim the Homestead Exemption, your property appraisal can "only" go up a max of 10% per year.