If they move out still owing you money, get a judgement against them. 

While the dollar amount will vary, your negative cashflow projection is relatively accurate.Duplexes within that price range in the counties referenced do not exist in today's market unless we're talking about duplexes with a lot of deferred maintenance and baggage i.e. tenant issues, title issues, liens, judgements, code violations, open permits, etc. 

Min Requirements:-Non-Smoker-Income must exceed 3x monthly rent-Min credit score 600-No evictions or unpaid judgements from previous landlords -Background check will be conducted on all applicants over 18-No more than two pets (dogs and cats) allowed.

If you foreclose on a borrower, and don't recoup the full amount owed on the note and mortgage (plus arrears, legal fees, etc), then you can file a deficiency judgement for the remainder.  

Such as you transfer the property into your wife’s name, you or your wife get sued for something unrelated to the property, a judgement is perfected as a result of a liability finding, and the creditor successfully forces the sale of your mother in laws house to satisfy the judgement.  

A judgement against the LLC without insurance to cover the judgment amount or even the seeking recovery from the individual member(s) will come secondary.

Thanks for posting this.My one question is this:Do we minus repairs, liens, judgements, etc BEFORE the discount that's applied for the cash buyer?

Hence, a judgement against you personally will not subject any assets in the retirement account to creditor attachment; further the assets are individually isolated s to liability through the series LLC ownership structure.  

That said, if you have an agent who knows STRs and feel comfortable with their video skills and their judgement, that can work. -- Find an agent that specializes in STRs.

You have the means to build a lucrative real estate portfolio and make wise judgements because of your distinct history and financial situation.