Also lower your rent a bit ($1300) and reduce your deposit to $700. 

Framing your position as fair such as explaining the difficulty of finding renters during off-peak months - might help maintain a positive relationship and reduce risks of property damage.Prepare for What’s NextEven if the tenant moves out early, ensure you’re protected.

Yes the plan is to reposition the asset to earn the $40K.

Assume you have cash currently earning 4.6% in high yield savings.

In the meantime, as this is built I will continue to earn income elsewhere so immediate cash flow is not necessary, and long term growth is prioritized.I freely admit that despite some of my other qualifications in business, I am a novice in the world of real estate investment.

This will reduce your risk and cash invested and if something goes wrong you wont be bled dry with never ending repairs.

Wow, take a breath, based on what you wrote here you've earned it. 

Anyone dissing Jerry, or anyone else out there who is genuinely putting in the work and deserves every penny they EARNED - In addition to dropping gems that are unmatched in the industry are either under a rock, or don't know what they're talking about because they haven't put in 2 mins of the work to give the man a chance.

@Brandon MorganAn LLC will not reduce your taxes.

If you have no idea what is going on with this capital call, then the bias should be "no" until you understand what is going on and believe that is the best possible use of your hard earned cash.