If it’s a value add core or core plus Freddie and Fannie small balance loans are probably going to be the best bet.For development heavy lift value add and adaptive reuse local commercial banks are the way to go Unless you want to use a HUD construction/renovation loan which is very time consuming but 40 year non-recourse very high LTC. 

I’ve been in the business for several years and I’ve seen it over and over again, many experienced investors become jaded by newbie after newbie asking for their time and help only to take ZERO action and make excuses as to why they can’t do anything.

My point is... it doesn't have to be BRRRR or bust... here is an action plan to entertain:1.

The buyer may not pay, doesn't pay taxes, wrecks the place, etc.Legal action is possible but also takes time and money, that can be spend better elsewhere.So my question is simple, is there some sort of insurance/service that simply guarantees me that I recieve all my monthly payments?

This book is an excellent parable about how you can get journey through real estate with taking small steps and actions. 6) Set For Life - While not exactly real estate related it is a fantstically motivating book about steps you can take in your personal life to improve your finances if you're serious about getting on the journey (it takes years) to achieving financial security and independence. 7) DelREIA Facebook Page - Because you want to invest in Delaware specifically it can be a good resource for specific things about laws, recommendations, and referrals. 

A better option than #1.3) Hire a "booking management" service to handle all of the time-consuming things like the inquires, bookings, contacts from guests & advertisements.

I guess I understand the theory behind this concept, but I'm not sure how to physically put the plan into action. 

Halfway through the book, and there is plenty of valuable information to take action on, especially on building the three circles of your work network. 

Thank you for anyone reading this and encourage anyone to just take action!

In the latter case, I'd consult your estate attorney on the best course of action with the incoming wire/check.