This includes (but not limited to):-Quiet Hours-What spaces can and cannot be used-Guest policy (make sure to limit days in a row and in a month)-Pet policy (even if you don't allow pets, if someone has an ESA animal, it would be good to have guidelines in the event they surprise you with one, otherwise you are SOL and of course take into consideration fair housing laws)-How is trash put in the cans (in bags, not just thrown in) and when can trash cans be taken to the street and put back-How is the late free structured (one time flat fee or a daily fee)2.

Quote from @Fabiola Noel: I didn't know any software included a bank account.

The property is in Pell City, AL and I was able to find this is a non-judicial state and potentially would not be tied up as much unlike a judicial process since it’s not going through the courts.ThanksDaria 

I’m from the Orange County, NY area.  

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

I know often times people on this forum say they are unnecessary and don't always protect against liability and just get a good umbrella policy.  

I welcome any feedback from other landlords regarding this type of case.

Let's talk bigger details then.1.

Did anyone get their flooring from LL?

I was told by my lender that these costs should come down more as some of the title fees are conservative estimates at this point.