@Austen Iverson A single single member LLC is a pass through entity, so when you have an agreement between the LLC and yourself personally, it is really just writing an agreement with yourself. 

So in order words, if I was able to get a 0% interest credit card for 12 months with a 3% fee and a limit of 30k, I could write a check to myself for 25k and I could use that 25k for a year and only need to pay $750 for access to all of that money for 12 months without paying any interest.  

You don't ask the kid flipping burgers resume writing tips do you?

@Kent Eagleburger do you usually have a lawyer to write your rental agreement/lease ?

My best advice it so talk to the local planning office and get something from them in writing.

When I write purchase offers for investment properties I give a list of due diligence items I need.  

If you don’t form an LLC how do you write your repairs , purchases of tools , supplies off on taxes ?

A third option (just thought of while I was writing all this) would be to start speaking with property managers.

I wish he would write more. 

There are multiple reason why that is a bad assumption (that investor could be insuring that property at Actual Cash Value vs Replacement Cost, that property could be with an insurance carrier that no longer writes multifamily and the policy is grandfathered in until it switches ownership or that property could be under insured from the previous owner).