There can be redeeming factors that counter balance a deficiency in a particular area. 

If market rents are $2400 it fits most lender requirements for cash flow.

Yes - you should be able to find some good DSCR Loan Options with 20% down easily - 15% down potentially available but the rates/requirements are pretty high on that front right now

@Guillaume Vidallet no matter what state you create an LLC in, all other states will require you to register any LLC that does business in their state.So, you buy a rental in Michigan and place in an LLC, you'll have to register that LLC in Michigan. 

Just like any business, the reward is big but STR requires a lot of dedication and self sacrifice. 

If the title company requires that you become the Manager of the spoke LLC, you would have to amend the Operating Agreement, and, possibly, you will have to amend the Manager of the LLC with the Secretary of State (depending on the State).

It can work but requires some finesse. 

Although Philadelphia is only requiring you to get General Liabilty, I think you have a bigger exposure to Professional Liability (E&O) insurance. 

You must give notice before entering, but you do not require permission.Any time I expect a response from someone, I include a deadline for their response and a consequence if they fail.

@Karl Kauper with a SF you can require the tenant to take care of lawn and snow, but they might not be up to your standards.