It has totally changed the way I plan to try to purchase property.  

During this process I've run across a property in Birmingham that has some good numbers "on paper."

You delay and delay and delay and not youre just now starting a 3 month eviction process 3 months after you should have!

I would get this out to quote with multiple Independent Agents (they represent multiple carriers) and if you can determine any agents that write a lot of apartments that would help also.The type of info you should gather that will help in the quoting process:1. current coverage. 

The tenant rescheduled their payment, but as it is processing over a holiday, it’s not expected to be processed and re-deposited until the 8th.

If it is not zoned for multifamily and the city has no plans to update that subdivision, you may want to chalk this up to an educational expense.

I am planning to buy a land and build a cabin - any reputable builder someone can recommend. extra points, if you have used them and can share a bit more details

Was the process difficult,  would you do it again?

I plan on renting it for at least a year and then perhaps trying to sell.

You would need to document your hours along with the hours of anyone else.Do you plan to pay this 'co-host'.If you list that as an expense on the return it would likely turn as a flag in the event that you get audited.Best of luck.