Ensuring a solid lease agreement and security deposit will help mitigate this.

This is one way to manage costs risk.The ways to own the property besides FHA & conventional loans is with private loans, investor DSCR loans (non owner occupied); seller financing, lease options, partnering with others to take the property down..... 

FHA loans may allow for lower down payments if the property will be owner-occupied.Owner Financing or Creative Offers:Explore properties where sellers are open to owner financing or lease-to-own agreements.

You know how to manage a property.To get started, your first steps should be getting licensed then meeting with a local RE attorney so they can help you get set up with your contracts, management and lease agreements, etc.

Whenever his solar company was about to go bankrupt (because it is a crappy company with bad products and terrible customer service, just ask anyone who ever needed one of their solar leases transferred to a buyer during a home sale or needed warranty work done), he’d launch an “exciting new product that will revolutionize the solar industry”.

When you discuss fees don't just ask the monthly and leasing fee.

Rent said property on Airbnb bc short term profits are more than long-term leases.

We recently put the house under an LLC but are not sure if the lease should reflect the LLC as the landlord or keep our names.

In some areas certain provisions MUST be included in a lease.  

You should teach a class on "How to Lease a Property".