A real estate agent can also review to let you know what is customary in your area- IE who pays for title insurance, escrow fees, etc. 

If you combine them into a commercial property, the lending rules change and financing becomes more complicated and more expensive.3) the economies of scale are the same for 3 duplexes or a 6-unit parcel.4) insurance is likely less expensive on 3 duplexes5) a valuation based on NOI may or may not be greater than 3 residential buildings.

Importantly, these companies also buy insurance to cover the cost of buying out the exiting partner.

and I have not yet asked the tenant if he got renters insurance. 

You might have to quit-claim to individual, finance, then quit claim back to LLC with documentation provided to the lender showing that the members of the LLC are same as the owners on record.

Will the property pass muster for insurance and financing?

Nurse) and can document it.

I told my tenant i will look into my insurance since they didn't have rental insurance (I didn't require it). 

I own some vacant land in Illinois and would rather place it under an LLC for protection & insurance - in also looking at 2 deals in Florida I may pick up.

Almost all title companies has a home warranty insurance.