There is a big difference between the escrow/trust accounts of such an entity and holding your proceeds in an actual FDIC insured segregated account with a Federal Reserve chartered bank.  

Other shared expenses could include insurance, snow plowing/landscaping and trash removal. 

Sorry my auto correct put Kelly instead of Kelli !

Now that Interac has introduced auto-deposit, it is simple to manage on our end.We also use RentMoola.com (NFI) to handle PADs - more simply that than our bank - or to provide tenants with additional payment options.

I think you should be OK on the mortgage insurance given you have 20% down.

The items in blue are calculated based on the other data.I took some sorta educated guesses for things like yearly increases in taxes, rent, expenses, insurance, and appreciation.

For example, tenant behavior causes an insurance claim, and that claim leads to higher insurance premiums.

As mentioned, an LLP is usually for a professional services company and in Florida, an LLP is required to carry insurance. 

My thoughts: make sure its OK with zoning/HOA, ask your insurance company about liability and any sort of requirements for insurance the tenant would have to have.

I'm looking for a new insurance company in Houston TX - any recommendations?