Have been reading that a solo IRA would be a better vehicle for purchasing property as the property can be leveraged with a non recourse loan and not have to pay tax on the gains associated with the loan portion at the “trust” tax rates.

We live in Florida but I am from Philadelphia and find the houses are extremely cheaper than the ones in Florida. 

Trust me, I would rather have all the tenants pay on time.

But, for me, it would have to be an extremely close family member who had some kind of permanent issue for me to subsidize them like that long-term.

Give it some time and them move to another market if the first one doesn't prove promising, rather than focus on several at once.I've managed to network via friends, friends of friends, or work acquaintances into a trusted realtor in my chosen market who could jump start things. 

Umbrellas are available from nearly every insurance agency and are extremely common for investors.On the commercial side, refinancing is more difficult and costly so the BRRR really works best with residential loans.

I might be thinking to much into it but I’m not sure if I trust the potiential of the tenants and their ability to pay. 

Education is worth something different to everyone.I'm someone who feels like he has good advice to share although my successes are extremely modest.

If one guy owns the entire business and he is potentially thinking about retirement, you will need to be sure that: 1) he has a succession plan in place, and 2) you can trust whoever the successor is to honor the lease.If you cannot negotiate a personal guarantee for the entire 12 years, would the owner be willing to offer a personal guarantee for a portion of it (perhaps 8 years)?

Building a team of trusted advisors: realtor, lender, attorney etc... is a very important first step and the best way to familiarize your self with any market you're considering.