From my understanding, many require it be held in an entity name for compliance reasons. 

The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

I recently used it to generate custom images for my STR coaching Powerpoint material. 

Here are 5 reasons why taking part of a good deal is ALWAYS better than 100% of no deal.1.

Does this kind of increase seem reasonable?

I warn them that a cancellation - for any reason - will result in charges.

I used to live in Tokyo for 6 years and would like to find a reason to go back more regularly but let me know if you want to connect!

Is there a demand clause where they can call the loans for no reason?

Las Vegas attracts investors from all over the world for good reason so I think you are on the right track starting here before expanding.

The LLC aspect is more for liability reasons if someone was going to sue you (so maybe you create the LLC when your son moves out).2) Like #1, a separate bank account will make it easier to track, but it's not required3) No, he can't also be the property manager.