I say this only because at this point I'm a seasoned investor and this experience is very much an outlier.

Even with PMI, and depending on seasoning requirements, you could refi/cash-out in 6 to 12 months and jettison the PMI as the same time. 

Regardless of where the real estate is located, percentage may fluctuate a little, but in then there is always only 100% of the income to work from.That is particularly important when you are considering seasonal properties.

He said his notes are for season investors and his mastermind group only at this time.

My father is a seasoned real estate investor who pays all cash for his properties and would like to bring me on board in helping him acquire properties to flip.

Their is an off season where your vacation rental demand will drop off and you will have no income from the triplex.Start the conversation being nice and helpful to your new tenants and don't pull out the stick (eviction) or even mention it until you have to.John

#4 Can anyone recommend an excellent real estate attorney and/or CPA to help guide us through the process of setting up the LLC, and planning for tax season in the years to come?

The rainy season tends to be October to February, thus leaving yourself the potential of those gutters to be jammed pack and doing ore harm then good.

Hopefully next year, and yes I think the 7 days will work where I am for the main season.

He's a seasoned investor and if he's having trouble getting rid of it, that should tell you something.