Like some others have said finish one collect cash flow save money and finish the other unit down the toad.

Would the government pay 100% of the rent due to the tenant being on disibility and eliminate the need to collect any portions of rent that a tenant on non-disibility would have to pay.

If you've spend more than one week in any market (I'm primarily in Indy and in the midwest) then you've seen:- Houses that are "pending" and the realtor thinks closing is coming but it is being fished out- MASSIVE spam and abuses of people that get HUNDREDS of calls a day from "wholesalers"- The same deal advertised with 10 different prices- Sellers who are lied to and taken advantage of- Wholesalers lying about values, rents, etc.Yes there are ethical wholesalers for sure but our collective immune system should be stronger and there shouldn't be so many people like this. 

That way, at least if the tenant does not replace their batteries and the landlord's insurance denies coverage, you can sue the tenant and collect from their renters insurance.

So is forming an LLC and getting an EIN to set up a business checking account to receive the security deposit and collect rent payments a good idea?

Best wishes Thanks Dan,Living of refi's is risky business IMO and something I would personally never do.I also know of many investors in "your market" getting over leveraged and hoping for appreciation, only to loose everything.And others that own and manage in Detroit for example that make a fortune.Yep, they bang on doors in the heart of D class area's and collect rents in cash.No appreciation, no rent increases and a strict cashflow play.Seems to work well for them.Each to their own I guess.Much success

Flooring can be a basic vinyl or even a DIY job using peel & stick flooring.Expensive materials is more risk for the landlord because when they get damaged there is more likelihood you will lose money on the deal because collecting damages exceeding deposits if difficult.

Have you come across a landlord / rent collection platform that does not charge fees to ACH your bank of choice?

Lastly, get a simple software that collects rent, late fees, updates maintenance requests and tracks payments.

Who collects the rent?