The nature of the leases will play a big role ... however at 2-units, the value may not be sufficient to interest some/many of them.  

Since home auctions draw real investors who have sufficient cash to purchase a property, these events can be an excellent place to meet and network with cash buyers.

Depending on the area I usually recommend a 2 unit so you don't have to worry about the self-sufficiency test which almost no 3-4 units on the north side pass.Get started now,  you won't regret it later.  

The umbrella usually covers the auto so what IS common is to have the company issuing the umbrella request that the 'underlying limits' aka your auto limits, be raised to a sufficient amount. 

This may be wishful thinking because I have a stage I, II, III vision for growing my business - and stage III is new construction of very small, highly efficient, completely or nearly self sufficient, and well designed homes.

I managed a dozen properties just fine but the reasons I use PM’s..They have a list of repairmen who will work on their repairs first, regardless of demand, will give them quantity discounts, and want to make their largest customer happy. 99% of the time it will be fixed the day it breaks. 

Assuming you have sufficient reserves to address things that come up up out of pocket (like bigger repairs), but are generally running pretty lean, do you just never bother with insurance claims?

Meaning that they are self-sufficient and can survive on their own regardless of my personal life.

While it is in an LLC, you still are guaranteeing the note so your credit worthiness is important.As far as personal bank statement's, the cash out proceeds should be sufficient for reserves so I am not sure why they are asking for personal statements, unless rent receipt is deposited into your personal accounts. 

Unlikely your capex budget of $18 will be sufficient, unless the HOA pays for interior expenses.