I’m from San Jose, CA and contemplating on setting up LLC before buying my first deal whether here in California or out of state. 

Being a nice guy, you could give them grace and act in good faith, and let them know that you will give them time to set up assistance, but after the next month, if rent is not paid on time, the eviction process will begin.You also must be careful, bc you get into a legal grey area by being nice and giving people breaks, however if you do not give those same breaks to everyone, you open yourself up to discrimination.I would definitely call that bank and tell them to make it right or they will hear from your attorney.The tenants hardships are not your responsibility.

Do you have different settings than the individual listings ie longer minimum stay, etc? 

I did have a good friend from Portland ( X philly eagle) who bought a small boutique resort in Kona about 8 to 10 rooms and that seems to have gone well for him over the years but price points were lower than the big hotels on the water or in Golf course settings.

This will likely be a cash for keys situation.This will likely be a cash for keys situation.This will likely be a cash for keys situation.Because they have been there for over ten years, that is one qualifier for relocation fees at a set price.

Here are a few I recommend: "Rich Dad, Poor Dad" by Roberto Kiyosaki; "Set for Life" by Scott Trench; "The Unofficial Guide to Real Estate Investing" by Spencer; "The BiggerPockets Ultimate Beginners Guide" found here on BP; "The Book on Rental Property Investing" by Brandon Tuner.

If you collect by credit card, how have you set it up and at what point are you adding in the service charge that needs to be passed on to the tenant?

This comes with its own set of risks but we can sometimes rehab our way into a 1% rule.

That can be done in a myriad of ways.If you are starting from a blank slate, you will be surprised how much it will set you back getting it right.We started from scratch with a 4/3 lake house.

I would actually like to screen the tenants myself and set my own minimum specifications for them.