I wanted to operate and hold title in the LLC as much as possible to protect my assets but I feel like this is getting more complicated than needed.

Hey everyone!I am looking at buying my first "home".  I put that in quotes because the property I am looking at is zoned as a commercial building with a gutted upstairs apartment.I'd like to purchase the property with...

Forming an LLC offers liability protection and clarifies ownership, but it’s usually best to establish it in the state where you're buying property to avoid tax complications. 

Hey Marcus, This is a bit complicated for a bigger pockets forum, but ill give it a go. 

However, now seeing yours as well as other responses here and elsewhere, I have to agree on starting with house hacking, getting that hands on experience myself first before going into something much bigger that has more potential complications. 

@Greg Moore florida is a judicial state so don’t expect foreclosures that soon or in big quantities.

While it’s frustrating that the tenant is still there and not paying, turning off utilities could complicate the situation and potentially lead to legal consequences for your "friend".In the meantime, document everything (the tenant’s non-payment, the lease terms regarding utilities, and their attempts to resolve the issue) to present in court, which may help recover the outstanding balance later.

GP is slightly easier to release but gets complicated.

We currently use eMoney which is great but can get expensive as our firm grows and can a lot of times be too complicated for most clients. 

Charlie, you are correct on RESPA as Federal regulation, but finder's fee for unlicensed individuals in real estate is state by state regulation - In California, for example as long as it is diclosed this is legal - "In California, a “finder’s exception,” allowing an unlicensed person to be compensated for introducing parties to a real estate transaction, has been judicially approved since 1923.