For simplicity, consider forming separate LLCs in each state for properties, using a revocable living trust for probate avoidance, and securing umbrella insurance.

That has been a big thing.The easy way I think to say it is if you are a lender, agent, insurance person, you shouldn't be starting forum posts to elicit feedback in your industry or genre.

I was able to convince my lender to allow me to do an air pressure test of plumbing lines, it passed and so I provided that info to the lender and they accepted it in lieu of turning on water.

The very basics would be getting your furniture and shopping list together, keyless entry like Schlage (with backup lockbox with physical key very close as well), looking into insurance, local taxes for STRs, and moreAlot of ways to save time and make it easier to self manage with a property management software like Hospitable and data research like AirDNA.

You will only be entitled to the deductions directly tied to the property, such as interest, taxes, insurance and maintenance. 

Insurance is paying for the stay.

I understand this is my responsibility and I filed an insurance claim and the garage is currently being rebuilt as the entire thing was destroyed.

Certain expenses are all lumped together for the sake of the P&L like insurance and taxes and others like repairs and maintenance can be viewed collectively or by individual property.

For a first property, buying in your name with solid landlord insurance is the good starting point.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).