I have some connections there with other hosts/STR companies.

Can anyone recommend software which would accept monthly payments (from me to seller) and create proper 1099 forms for tax purposes at year end? 

Who are a few great companies I could speak with that have turn-key properties available?

Maintenance at at PM company or one of the big hedge owners like AH4R, leasing at apartment complex will teach you a lot about applications, fraud, leases, collections, evictions. 

It's really all about putting together your team - realtor,  title company, other adivisors, QI.

- Agents and title companies I work with always expect EM to be delivered within 24 hrs of opening escrow.

Keep in mind banks still pool forclosed assets together and sell them all together as a group to one company.  

Here in the USA you need what's called a "construction loan" and it's also very hard to find a company that will insure you if you're a newbie.

I worked for a US retail company that had a policy of accepting returns no questions asked and even when I accidentally uncovered someone seriously abusing the policy, my bosses wouldn't pursue the matter. 

Then, I spoke with several acquisition managers with very limited knowledge on how to evaluate a deal but this time, the company they were working for was sued by multiple homeowners for fraud.