Even when you stumble across the limited exceptions, you should always have sufficient reserves in place before purchasing real estate.

If a rental/lease contract is a legally binding document...enforced by collecting rent...or enforced by an eviction process if rent is not paid....then can there not be a document (legally binding) for a tenant to sig...

And how do I go about getting a mentor/ or even taken seriously with lack of experience?

Or even interesting to think about the ability to charge late fees. 

Homes will have even more deferred maintenance and tenants will be even harder on them.Class D pretty much requires an OWNER to be on location and at the property 3-4 times/week.

Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)

Is complete separation even possible?

Even if you had the demand when would you stop building?

In this case you are the customer so it's even easier.Knowing you, I'm sure that you got everything above in writing, so you will be fine.

Even if you try to put a dollar amount next to each item and you don't have much experience, you won't be that far off.