I confirmed with customer support that they no longer offer the annual subscription for new properties. 

You don't know how the process works so I don't know why you think you would be getting offers accepted without a pre-approval or proof of funds.You get a pre-approval with a lender you know and every time you make an offer, you just have them adjust and confirm the date and the new property address.

You should have a minimum of $15k in reserves for repairs.Your challenge is 1. finding a place at your price point (you might want to branch out to Bayonne, Union City, West New York) and 2. finding a vacant place or one with renters paying market rent.

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?

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

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

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.