I bet you're in demand in the Triangle area.

Your best bet is to seal up & repair everything you can, keep vegetation away from the building, make sure there's no food around (like pet food or bird seed) & that the tenant keeps their place clean & food-free.

Don't have the details here, but I'd bet you could google for something like that.

Bloomberg wrote about Sam Zell, famous value investor, in a May, 2010 article, “Zell’s Firm Raising $500 Million for Brazil Propertyâ€: “Billionaire investor Sam Zell’s Equity International is seeking to raise about $500 million to step up investment in Brazilian real estate, betting interest rate increases will fail to stem demand as the economy grows at the fastest pace in two decades.

Is there value in setting up an LLC, you bet, but don't think it will save you from plaintiff's attorneys.

I painted the whole interior in 2 days with the help of a friend.If you can do it yourself save that money.If you cannot do it yourself, my suggestion is to quote with different people and go with the best bet.

If you read more of the BiggerPockets forums you will find that in places like Florida and other highly volatile areas, betting on appreciation is more like gambling.If it is a long term buy and hold and you can sustain the annual negative cashflow, then it makes sense.  

For example, if all the other luxury homes have tennis courts and yours does not, well, you can bet you will have a more difficult time selling it.

Further, compliance will not negotiate with the consumer -- you're getting the "consumer protection" like it or not.Best bet is to just do it. 

Whereas like you stated, if you invest that $300 or rather save it for a future property, I can safely bet you will return more than 4.6%.