I agree to pay the lawyer, I may be biased, but if you want LLC protection, you should pay to play.

. - disclaimer: I'm a real estate agent and completely biased in this.

So I am naturally biased towards MF since that is all I know. 

@Aditya Maini this may be slightly biased but my wife is an agent in Gaston county.

@Philip OlivierYour tax profile is a little bit more complicated and such I think you should hire a professional(I am a little biased).Since you make $100,000 from your full-time job - you should be eligible to deduct the losses(if you have them) from your rental property so long as you don't have significant income from other sources including the short term rentals. 

The other is a little more complicated, as the estate was insolvent, so imo, there should be no tax owed, but of course I'm biased.

I was/am speaking from what could be considered a more narrow and biased view being an investor, broker, and property manager just in and around the Kansas City area. 

I would suggest hiring someone who is non-biased; estimators are contracted by large firms, including GC's, all the time. hire a private claims adjuster.

Also your insurance and electricity budgets seems on the low end but I may be biased to that because I live in a place where insurance rates are insane.

That means getting it listed on MLS with a competent, full-time Realtor.NAR studies (and there is admittedly a case to be made there for bias) have consistently shown that homes that are sold through a Realtor fetch more than enough additional money to cover Realtor commissions.