For example, if the month to month rental agreement stated that "30 days"  or "30 calendar days" are required to terminate the contract each of those would either be vague or inconsistent with the law.

Risk of ongoing costs. 

There are lenders that will finance newbies, even at 100% of the purchase & rehab, but if the numbers do not make sense, the chances of that deal getting to the table are thin (especially if the lender wants to help borrowers succeed, not help them fail).The lender's underwriter looks at every deal, but especially the lesser experienced operator's deal to determine what is exposed vs what is the return.

You do not need a separate LLC for each property or a series LLC!

Should it be labeled as "2.5% of the purchase price toward closing costs"?

Are there any investors I could learn from, network with, and potentially even partner on deals?

Lets help each other out and bring value to each other.

Makes your property more accessible (at least on the surface).Bad: Has a cost which is not used most of the time.

For example, I've considered features like separate entrances for each unit.

We also do deals in Arkansas, where the standard is NO EM.