this was the only insurance company that I could find that covers short term rentals like AirBNB. 

Enough to cover at least one major repair.2) Pay off any high interest debt, ie credit cards.3) Start saving for the down payment on your next investment, since you mentioned you do want to buy more rental properties.Which is not to say you can't do some of all three, but my focus would be in that order.

Duplex has new roof, vinyl siding, newer furnaces and central ac.

Then, their monthly payment to me covers my payment on the mortgage and usually I get $500 to $700 per month *more* than the payment I am making.

Question:  is now that I opened a LLC To cover me in case of a lawsuit.

If you don’t account for this upfront and a washing machine goes up, then the roof needs redone in 4 years, or the garage door needs replaced- that will eat into any cash flow you have built up for x amount of months.

Question: is now that I opened a LLC To cover me in case of a lawsuit.

Also, I charge more in rent if a unit is rented to 4 people as opposed to 2, as I cover some utilities.

Richard, consider using other assets to pay the taxes or obtain a loan from a bank to cover the taxes.

The lender won’t escrow repairs having to do with wood rot and roof issues.