Additionally, achieving a good ROI requires a great property manager, so it's not solely about having the right property in a good location.

They will likely require you to provide them with updated documents and proof of ownership, but other than that I remember it being pretty straightforward.

The way Avery Carl (the author) and the podcast guests describe it, managing an STR seems quite straightforward, though I'm aware it requires significant effort to be successful.My plan is to purchase a property for under $400k, make a 10% down payment, and self-manage it as an STR.Living in San Diego, and given the real estate prices in Southern California, finding a profitable STR locally seems challenging.

As you are saying, you'd have to move Title to your personal name (Title should be with the LLC right now) and get a homeowner/landlord insurance policy as well as an umbrella policy if you desire. 

Unlike a purchase/sale, it is not required that this be reported anywhere and zillow doesn't give already rented properties/prices. 

Conventional loans will require a significant down payment so that you can get the cash flow you need.

Example - if a renter were to mail us a check, can I just give them the PO box rather than have them send it to the property address only to be forwarded to the PO box (again, only checking to make sure we stay compliant).I should add that our system requires the home address for our LLC, and in our home state we are our own registered agent   In the foreign files LLC we have a virtual address for registered agent     Just want to use a P.O.

If you wanted to invest through an LLC it would require you to purchase it as an investment property from 15%-25% down payment.

If there's a kitchen fire that requires $150,000 to rebuild and remediate you're suggesting not filing a claim because it's not a total loss?  

There is a mileage requirement (typically 50 miles) and the  "Underwriters" use common sense that can and will question the intention of the second Home.