A plumber recently came out to my duplex and found paper towel that clogged the toilet in unit 1.

Yes, on paper you lost money but nothing has really changed. 

It may look great on paper but you need to have a very conservative vacancy and repair budget.

My attorney (not the original injury lawyer who wrote waiver) said the waiver was very professional and probably would have held up in court/trail since it was not a "blanket" form and was more detailed and included processes to follow for reporting etc...Anyways, long story short the reason it is the gold standard is even with the piece of paper it is better to have the insurance company pay all the costs of a claim.

Even with lower numbers for capex, I'm at best cash flowing $100/mo on paper. 

It sound easy on paper but in real is hard for a foreigner to get a CC.

Even the closing is in 2020 I would prepare all my papers and check out at least 3 places now, unless you have line of credit as plan B.Good luck!

We print out our rental criteria and hand it to applicants along with the application (paper method).

This does mean though, that the investor could demand you either quitclaim back to your person or if they trigger the due on sale, you would need to refinance, as your person.For the LLC to be worth the paper is written on, it must be an independent entity from your person.

Kind of like the myth that if you become a landlord you'll constantly be dealing with calls about overflowing toilets in the middle of the night.