It all comes down to risk tolerance and your individual situation.It should go without saying, but insurance companies are profitable, which means in the long run they pay out less than they collect, which means that essentially you are paying them a lot of money, for only a little bit of repairs.The caveat of course is you need enough cash on hand to cover deductibles. 

Ultimately, we'd keep repeating this pattern until the project was built out and fully rented, essentially using the BRRRR strategy with new construction. 

Think of it this way: you're essentially paying your tenant $7,200 a year to live in your rental.

It can work both ways essentially.

Essentially they are working to become a one-stop shop.The property management feature assigns you a rental manager.

One of the partners is a physician and essentially a passive partner, so we were able to purchase this under his name with the Physician's Loan, which is a loan offered by a few banks.

Let's say I'm willing to put the house under contract, where do I go and how do I do that (referring to paperwork) do I go to a title company?

I was firm with the tenants multiple times over text/in person and essentially hardballed them with a strict deadline saying their items may get damaged by contractors by this date, and they ended up clearing everything out.Didn’t have to pay them any cash, hire an attorney, build a shed, or pay for storage.

My role would be anything behind the scenes dealing with LLC paperwork, accounting, initial funding, etc (will not be involved with showings, or anything dealing with a listing or sellers or buyers)The friend with the license and owner will deal with all real estate requirements of the business. 

It also is more administratively burdensome to have more paperwork.