I will see if the water company has a way to put some kind of alert in place, to notify me of a future excessive water usage.

It is likely that you will end up with a policy in the Excess/Surplus Lines (Lloyds of London or similar). 

Do I raise the rent and make $600 a month on passive income, keep the property and chance this home not appreciating much more bc of what's currently happening in Florida with excess amount of inventory sitting there?

While these companies can offer convenience, it's crucial to vet them thoroughly to avoid any unpleasant surprises like excessive fees. 

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

You may have even dropped investments due to their excessive volatility.That’s why our fund diversifies across various sectors, like Broadway, offering you 12% fixed returns on your promissory note investments.

Also - presuming you paid more for the property than was owed on the mortgage due to competition on the auction (several presumptions there) - the previous owners are entitled to those excess funds from the court - which gives them a resource to be able to afford our rental rates. 

If you read my posts regarding San Diego Covid eviction moratorium, I forecast a rising rent in excess of the already very high rent growth.  

If it keeps up, that should help soak up the excess that was built and bring everything back in order.