I suspect that unpaid late fees will also not be enough to trigger eviction but you will want to check.I have found that starting the process on the 5th day of the month for late rent is essential - they may pay late again but getting formal letters to pay or quit might straighten her out.

I am able to lock up contracts but am struggling with the dispo.

@Jay Hinrichs care to comment.ONLY REASON I would run title is if I thought there was an access issue ( land locked) etc.

Transferring the conventional mortgage to the LLC afterward will, in many cases, trigger the due on sale clause which will cause you to go get the commercial mortgage anyways.The DSCR loan could be an option.

Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

What kind of lock systems are you using to ensure the security of guests?

Its like a bank account that actually pays interest.With the "potential" of the rates dropping later in 2024, you may want to lock in longer maturity securities if you want to actually use treasuries. 

I do have an agent that is helping me on the side to find deal but for a person like me; completely fresh of boat, I have no idea what to look for and extremely nervous to pull that trigger. 

Skip the rent so you are ready to pull the trigger when you find a good one!

It's always a good idea to visit a city before you pull the trigger to purchase your first property.