I think it's my responsibility as the owner/ manager to mitigate the impact that these situations have on the property and the other tenants.

Large corporate guarantees mitigate the tenant default and a longer fixed rate might be wise at this juncture. 

Believe it or not, I had my rental properties owned personally using umbrella insurance to mitigate risks, even though I had an LLC for one of my active businesses.My research back then indicate disadvantages to using C Corp for rentals, and it still is.

Tax planning is a long term game and if your advisor had planned your investment and potential disposal, you could have mitigated some of the taxes. 

Flipping would increase your taxes because you have new self-employment taxes to pay, if you didn't use some tax mitigation strategy.Big picture observation: your taxes shouldn’t have increased just because you bought these rentals (unless these rentals gave you huge positive cash flow even after depreciation during the first year). 

It is the difference between your adjust cost basis (acquisition +improvements-depreciation) and the net sales price.Your choices for tax mitigation on the sale while staying an investor would be a 1031 exchange. 

The fears you mention are lower, reflexive fears that can be mitigated and overcome with education and experience.If we focused on all the what-if lower fears possible, we would never drive.

New paint, flooring, new kitchen remodel, complete basement refinish, complete landscaping refinish,structural reinforced and water mitigation added What was the outcome?

Mitigate, yes, eliminate, no. 

So if your going for an SFR as opposed to a multi unit.. if you buy at those price points you will break even or maybe be 100 to the good maybe 100 to feed it.. but you will mitigate the RISK hugely.