I manage vacation rental homes in Charlotte area, and I recommend you have the following:House specific cleaning checklist per home w/condition section for cleaner to fill outHouse specific house info sheetsHouse specific check out checklist per homeIf you get these three documents done well, this will cover the majority of questions that arise from guests and problems with the property that arise before and after they check out.

You are required to if the candidate meets all your other screening criteria. 

That means getting it listed on MLS with a competent, full-time Realtor.NAR studies (and there is admittedly a case to be made there for bias) have consistently shown that homes that are sold through a Realtor fetch more than enough additional money to cover Realtor commissions. 

I have funds to cover around 100k purchase, what should be my general road map on the funding?

This does usually result in us using more paperwork/notices than necessary with our tenants, but covers our risk for the most part...generally, the  notices have the actual statutes printed on them and if you read through them thoroughly, states the proper routes to take in different situations and when to use a particular notice. 

What does landlord insurance cover if you're investing in an apartment building with 100 + units?

Also, what's covered by this insurance.

In my area they can rent out at 1,000-1,200 all day long, and since there's so much demand, I can screen tenants properly without having to compromise just to avoid vacancy.

Screen tenants and get the most qualified ones you can and require a large deposit of they don't have good credit and background checks.

Based on what other places are rented for in this area, the rental income will likely cover more than half of our estimated monthly fee (mortgage, property taxes, etc.)I'm wondering if anyone who owns a property in this area has dabbled in AirBnB and what their experience has been like?