We don't look quite so smart.Now suppose second coming of the hula-hoop fails to materialize and the hula-hoop factory announces in June 2017 it is winding down operations after 65-years in the business.  

Its more succeed or fail with a flip than it is with a rental.....

This company clearly should not and by sharing your experience, you protect other investors and hopefully improve the industry - as companies that do well are rewarded and companies that fail to deliver, ... fail in the marketplace.

You have to fail before you can truly know what success is.

There was a contract on it but the buyers backed out because the house failed inspection for plumbing and electrical issues. 

If a tenant fails to give proper 30 days notice, when does the clock end for loss rent that I can charge them?

I'm an extreme newbie at this, so take my words with a grain of salt and give them less weight than some of the more seasoned investors. 

If that fails, the backup plan would be to place a 2m rider umbrella on each policy per property.  

Sec. 207a.(1) ...A certificate of good standing issued to a domestic limited liability company shall state that it has been validly organized as a domestic limited liability company, that it is validly in existence under the laws of this state, and that it has satisfied its annual filing obligations.(2) If a domestic limited liability company or a foreign limited liability company authorized to transact business in this state fails to file an annual statement required by section 207 for 2 consecutive years, the administrator shall notify the company of the consequences of the failure to file under subsection (3).(3) If a limited liability company does not file all annual statements it has failed to file, and the applicable fees, within 60 days after the administrator's notice under subsection (2) is sent, the limited liability company is not in good standing."

If my first one failed, my real estate career would be over before it started.