This helps buffer situations like this.I recently re-rented a house and only charged a 1K deposit on a $850/mo rental because they had stellar credit.

Now, as a business, how to deal with stellar customer service?

A good management company should have a quick stellar answer to these two things without hesitating!

Even if their screening came back stellar, you would have stopped this entire thing with an inspection during the first 3-6 months or at least not renewed their lease after one year.

We have a stellar high no of people out of a job.

Credit Score is stellar ( 800+)I have worked with a few lenders and the best deal I am getting is 3.25% for a 30 year fixed , no origination or lender fees , $500 appraisal and $1200 credit at closing .

@Lisa SlussMaybe I haven’t read enough of the follow up comments but if the houses are free and clear how is your debut to income so high?

(looks like you are I think)  Even with those super low interest rates you aren't seeing stellar CoC returns. 

I know this is a bit late of a response, but as others mentioned - forming in DE would be good IF you were running an internet based business where the online business could be 'located' in DE, but since operations are virtual you wouldn't necessarily have to claim operation and thus register as a foreign LLC in CA ...Having said that we are obviously talking RE business here ... given that your speaking directly to a cluster of property in MO, I would think a Series LLC would be the way to go (thats what I'm currently leaning towards as i'm forming an entity to house a portfolio in MO myself)..

With a vacancy rate of 1.7% you are moving to a stellar market to begin your investing career.