Echoing some of the comments from others on this thread and adding that the LLC is purely for asset protection and limiting your personal liability. 

However, I should note that this tenant has been late paying rent several times recently, which has added some strain to the landlord-tenant relationship.How would you approach this situation?

He's done everything on my list but adding the bathroom in my basement.

However, the question of posting links popped up in my head, and rather than adding it to my notes, I decided just to ask right away. 

I can add value to RE by adding a bathroom, renovating the kitchen, ADU, etc.

You can use bat insulation or spray foam, which has the added benefit of giving you an air-tight seal and also keeps the bugs out. 

I did a comping analysis and this would cash flow as is and do well with some added amenities I plan to add to it. 

Adding in the layer of not being on the loan but holding title just sounds like it will eventually lead to problems like OP experienced.

The Due On Sale clause was added I think in the 1980s because of "sub-to" deals.

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.