I will definitely wait for the announcement from IRS end of this month.

Waiting to see what the results are.  

may be setting a side couple thousand dollar for the rental.  

But really I want to keep a couple thousand on the side for possible emergency maintenance.

Developers have been picking up and I believe the median price for homes dipped a few thousand dollars for the first time in years (from $424,000 to $415,000). 

How long do apartment complexes wait after rent is due before filing for eviction?

Should I file for eviction asap, or wait and see if they pay on the 11? 

However if we were to wait and use 5K of cash flow instead to pay for something after 1 year of renting, would that decrease the "estimated repairs" number to $20K in that calculator or would it make no difference whether it's cash from the business or personal cash out of pocket as far as the cash on cash return calculation is concerned?

Coordinate with your PM to make sure you are both on the same page and wait to see what happens.

The cost for insurance could be a lot cheaper than running an LLC.Now if you have hundreds of thousands to millions in assets, it would be worthwhile to talk with an attorney.One last thing, if you have financing on said property, transferring it from your name into an LLC could trigger a due on sale clause, which means you would have to get new financing.