Clearly I'm traumatized.The lesson I learned is its not MY money to be cheap with, its the property's money which should come from its repair reserves fund.Now instead of having 1 person do it all and stress me out, I go straight to the specialist for the task.

To keep the home loan people from getting confused, you will want to NOT report the rental income/expenses on your personal tax returns Schedule E, instead have the LLC do an S-Corp election, and report the income/expenses there (after confirming the truthiness of all this with your tax professional, of course).

Since a mid-term stay could technically last for 60 days, is that a Damage Protection coverage for reservations this long similar to AirCover?

@Sumitro Samaddar You'd probably have to confirm those rents during the due diligence process. 

Then had to call my plumber and have him confirm this over the phone.

Control the property with a delayed/hybrid contract, 4. offer to control the property and sell it a reserve public auction - before the bank has a chance to do that, 5. put it under a creative contract of sale and assign your contract for a cash assignment fee, 6.

Enough reserves to manage 1 cycle of capex + 2 years of vacancies on day 0 of acquiring property.

If they can't figure out their issues, don't renew and find new renters.If one of them wants to rent alone, check their financials to confirm they can afford the rent alone.

Late last week we went live on booking platforms, and while reservations are slow, we received our first booking for Memorial Day weekend.

This is why it's critical to have liquid reserves.