Be sure to pay attention to anticipated ARV and max LTV on the refinance, as well as seasoning requirements - this is where I usually see people run into problems.

Why pay more than you have to? 

Quote from @Dan Grove: Some combination of cash to seller, closing costs, repairs, construction, paying off arrears, assignment fees, commissions.   

if you don't mind me asking, who was your lender.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

When they pay out a claim, the money comes out of their pocket.

Keep in mind that your mortgage terms and insurance premiums will probably be less favorable in an LLC.

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.

You buy it and look to pay it off.

The more active you are in the pursuit of obtaining a property, the more attention the agent is likely to pay you.