Owning properties through LLCs in their respective states avoids the need to register a foreign LLC, which adds costs and administrative requirements.If you plan to acquire properties across multiple states, you could create a parent LLC in Florida and have individual property-specific LLCs (child LLCs) in each state.

Buying a building yourself to STR is ideal, but I also know a guy in Houston that has about 200 STR units.  

So if lots of parking, ideally walking distance to busses or transportation to cut down on cars, you might get away with it (legally).Operationally;  this is a can of worms to manage. 

Ideally you'd be there too (or a manager if you had one) as that is best practice in my opinion, but being remote you just have to outsource everything to people you trust. 

But I do not have to wake up and use the most valuable resource in the world - time - to contribute to another individual's or corporation's wealth.

I want to get both tenants under triple net leases for 5 years ideally. 

I’d list them each empty and individually.

Ideally it pays itself back over the next few years and could be great!

The trustee, borrower or bank can ensure you get your hand slapped hard for approaching the circumstance as a work-out or foreclosure fix it guy without a license or being an attorney.Let's say that we can approach the owner and be in compliance, which you can.You will not purchase a note as an individual investor from a bank that has started foreclosure by making an offer like that.You get a request from the borrower for the bank to sell the note in lieu of payoff as demanded.

VA loans are typically meant for individual borrowers, not businesses or entities.