Additionally, regarding the legal structure, an LLC seems to be the most suitable option for our situation.

Quote from @Drew Sygit:My apologies w/my earlier post (below), I was on my phone and not laptop so it wasn't tagging.I will if I may add some additional thoughts...1) The appraisals I've seen in these markets are no where near Zillow estimates. 

Additionally, add in the ambiguity/risk of the due on sale clause or ramifications on the conventional loan of transferring the property from your individual name to an LLC - the economics don't make sense, and the headache isn't worth it even if it did, in my opinion!

The only additional thing we do is send them to collections.

You may not be able to break the contract this year but would recommend getting additional estimates going forward if you feel it is expensive.

Oh, AND I get to add some new additional handcuffs to the mix.Zero sense, it makes absolutely zero sense. 

@Shmou N.ShmouYou can collect Rent and all other fees; Utilities, parking, or any other fee needed.We don't currently have a notification of the deposit but I will add it to our develoemt roadmap and you will see it in an update.

Additionally, the Villages are close by and with an aging population it attracts a lot of healthcare field workers.Now, with a lot of rental properties you may run into slightly longer vacancy periods if you have a unit turn at the same time as others, but generally speaking renter demand is solid. 

If things work out, we'd like to have at least 1 additional property before the end of the year and have 8 in 8 years.

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.