The only purpose of the account would be to collect payments and pay bills like taxes and insurance on assets held by the LLC.

Cash flow is defined as the money left over after paying for all expenses, including setting aside a certain amount to cover projected expenses like maintenance, vacancies, or capital expenditures.EXAMPLE:Property Price: $250,000Down Payment (25%): $62,500Loan Amount: $187,500Interest Rate: 6.5%Loan Term: 30 yearsMonthly Mortgage Payment: $1,185Monthly ExpensesMortgage Payment: $1,185Property Taxes: $250Insurance: $100Maintenance (10% of rent): $250Vacancy and CapEx (20% of rent): $500Rental IncomeMonthly Rent: $2,500Total Expenses: $2,285Cash FlowNet Cash Flow: $215 per month 💰However, there are many other factors to consider.

On the other hand, when you design strategically for a specific type of guest, they’ll not only pay your desired rate but also return and recommend your property.I go deeper into this on BiggerPockets Episode 933, but I completely understand if not everyone finds this info relevant.

You really don't need that LLC until you pay off the property and it's questionable if you need it then as long as you maintain your property and have correct insurance.Yes to wind insurance, not sure about hurricane.I use Foremost STR policy for one property.I am about to switch to USAA (retired Navy) for another because they quoted a policy that was 3k lower than what we have.

Use that loan to pay the back taxes and get things under control.

If it is not adding up, and you can find an attorney specializing in that type of thing, it may be worth paying for a little of their time.

There are quite a number of things that can make utilizing an FHA loan more difficult such as more barriers during appraisal, appearance of low qualification/little cash, typically longer closing period, likely higher interest rate, and PMI cannot be dropped without a refinance if 3.5% down.That said, just chain 5% down conventional loans, and make sure your duplexes pay for themselves.  

The garage and the fact that a long term tenant was in place paying market rent.

If I can pay it off in a 7 years I’m fine.

I would focus on the house hack and not take a pay cut.