It strikes me odd that there is no common tool that facilitates escrow between renters/landlords for these transactions.

I understand markets are regional but we will take it. 

I also understand that the real money will be made on the 3rd, 4th, 5th+ deals, so my primary concern is getting started, getting experience, and making a little cash on my first investment.My initial strategy was to purchase a light value-add dup/tri/quad that is selling at a discount per key to FMV ideally with rents below market.

But, he has the right information on the tools to use, the expectations, tips & tricks, how to deal with AirBNB & VRBO and dealing with guests, is focused on the experience of the guest, on great ratings and he understands the process.

You just need to really make sure you understand and are cognizant of all the features of a floating rate loan - often times the structure can be complicated and you don't want to miss something, especially related to any "caps" - just make sure you are better safe than sorry

I understand that threads like this are a byproduct of being very active in the market and welcome any feedback that can make our company better. 

@Rosanne Muschenheim I am not understanding all your information. 

So if you are planning on keeping it, my understanding is that you would only need to live there for 12 months in order to qualify for low down payment loan options if you wanted to purchase another owner occupied property.

I have been very understanding and nice with my tenants about paying rent late, but I now see that is not how this works.This is my first time dealing with this so that any advice would be much appreciated. 

Since there is no custodian involved, you must be scrupulous with your investments and have a good understanding of the rules against prohibited parties and prohibited investments.