You’ve already taken a decisive step by proving your reliability to friends and family, which is huge.

Will they "check themselves" from bad behavior when they see a professional company with professional services, legally reviewed lease, etc. managing their day-to-day?

Diversifying geographically can also reduce risk and increase long-term returns.For example, there are several markets across the U.S. that are ideal for new investors because they offer affordable entry points, reliable cash flow, and strong economic fundamentals.

Banks and mortgage companies are getting wise and they are recognizing the threat that Pace Morby is to them. 

We had a property manager that sold his company.  

For example, here in Columbus Ohio, you have amazing macros (population growth, job growth, and companies moving and developing here like Intel headquarters, Amazon, FB, Google, Nationwide, and recently Anduril AND you can still find positive cash flow and the 1% rule here PLUS there's AMAZING appreciation potential.2.

I have learned a lot over the last ~6 months about furnishing a property, managing/pricing a rental, understanding the ins and outs of Airbnb/Furnished Finder, and analyzing real estate investments generally.My business idea is to use that knowledge and start a company that does the following:-Furnishes properties for investors who want to turn their LTR into a MTR/STR, new homebuyers who want to house hack, or just any investor needing a rental furnished.

I like this company.. among a few others in the syndication space.. 

And when the company you're suing has shut down and apparently has no money, is it even worth the effort?

The best way to see if someone is a reliably paying tenant is by their credit score.