Develop an operating agreement that spells out the purpose of the LLC who has what role, who makes decisions, how are differences between the two of you resolved and an exit plan.Have an attorney draft up the document so each party is protected.  

The role of host is quite different than the role of landlord.  

Learning more about other options so when that debt is paid off I am good to role into my next adventure!

This is more of a exercise at this point. but i am still going through the motions. originally site unseen i had a 45000 rehab based on pictures, i had a contractor friend of mine  look at the place and a rotten sub floor on the upstairs unit from a leaking roof brought rehab up to 80,000.

Insurance plays an important role as the first line of defense against nuisance lawsuits and common events like slip-and-falls.

Take what you've learned from the books and podcasts and analyze deals from the MLS, just for the exercise of it. 

And you can see how much they paid for the property too.There are several other ways to find cash buyers but this is one way that is easy and you learn a lot from doing this exercise.

Where can I find out which things could possibly affect my property's value, likelihood of renting it out, play a role in the house insurance premium?

I lived the learning transition with my father, not in real estate, but the emotional and intellectual exercise was still the same. 

I used to study architecture but I found out I like the role of developer more in the entire real estate/construction process.