You really don't need that LLC until you pay off the property and it's questionable if you need it then as long as you maintain your property and have correct insurance.Yes to wind insurance, not sure about hurricane.I use Foremost STR policy for one property.I am about to switch to USAA (retired Navy) for another because they quoted a policy that was 3k lower than what we have.

3 seperate buildings, parceled as 3 seperate addresses so investor can get single family financing on this, is that correct?  

Hi Allen,Hard money loans can be a great tool for first-time investors if used correctly.

They lower taxable income for federal taxes but not for FICA.However, employer contributions made by the S-Corp are not subject to FICA and count as a business expense.Make sure your W-2 correctly reports wages, deferrals, and FICA wages.

There are online platforms like Rentable.com that will handle opening the correct accounts / all compliance tasks related to managing deposits 

Than did all the red-tape fun to get things set, and completed soil corrections. 

With this in mind, if you intend to leverage short-term debt (hard money), it's even more vital that your underwriting is thorough and that you have the correct systems in place to tackle potential issues.

I'd keep the property if those numbers are correct.

You are correct about that, but that's usually a computation and decision that an investor makes after a couple single-family homes or small multis.

So whichever way the law allows is the correct way.