I want to set up an LLC to sign an agreement with the future tenant.

Your brokerage would have to allow it as well, would most likely be outlined in your independent contractor agreement. 

It could take you six months to a year to get them out and/or tens of thousands of dollars to do a cash for keys agreement (basically give the tenant money to leave). 

However, I suspect if they got a lawyer, they might be able to at least delay an immediate eviction claiming your verbal agreement constitutes a month-to-month agreement and that you would need to honor it for at least the first month of that before terminating.

@Connor HeatonRead the specific HOA agreements for each community you plan to invest.

It is not a big place...Once you serve the 3 day, they are in violation of the lease agreement, and they are on notice of it.

The tenant just signed the 2nd 1 year lease agreement.

If Spark creates an entity, operating agreement, blue sky filings, SEC filings, etc, that all costs money this is cost a, presumably, the LPs are reimbursing for.

You can spell out all of the different scenarios that may occur in the operating agreement including splits and ownership.

The best option is to proceed with a cash-out refinance utilizing a DSCR loan. you can grab up to 75%LTV all by using the current tenant's lease agreements to cover the debt service requirement.