Like someone suing you for not describing the STR properly or something like that.LLC's don't really protect from negligence.

you’re generally not responsible for a tenant’s personal property loss unless your negligence directly caused it. 

Yes, that is the point of insurance, but with something like a golf cart, "gross negligence" could quite easily come into play, and if you are grossly negligent, you are now the insurance company. 

We have a property management office and we have dealt with section 8 and D class areas until we realized that the headache of chasing rents, constant negligence to the properties, and lack of communication from the tenant made our life much harder and also made the owner extremely pissed.This is the nature of dealing with that class of Real Estate. 

I had to find out on my own that my account was closed, they placed 3 bad tenants back to back (in 1 years time), and for the past 5 months I've been dealing with a tenant that lived in the property for less than 24 hours and is suing me for $25k because of Home365's "technology" and negligence.

I hired them to take over day-to-day management and oversee the eviction and renovation, but I’ve ended up having to micromanage everything myself and lost thousands of dollars in the process.Has anyone here taken action against a property management company for this kind of negligence or breach of contract?

If there’s no documented hazard, they’ll have a tough time proving negligence.

Ironically most who spend on LLC's and overkill Insurance are negligent in their operations, are susceptible to carriers excluding coverage, spend an unnecessary amount of time defending claims, experience insurance premium increases etc. 

Or will the impact be negligible?

The highest odds to get a deal, of course, would be that the commercial property owner you speak with is in some serious financial distress, might be hit with series of code violations, back taxes and suffers consequences of major mismanagement of finances and negligence, and all the while is unaware of the options to get himself out of the situation as an investor.