I highly recommend you play with that tool to start getting an understanding of what things you can do to positively affect your credit! 

I attended the RALA 3-day training in Phoenix and took a couple of online courses as well, and while I found these courses to be very valuable in helping get a clearer understanding of the space and what it might take to be successful, I eventually I found it most beneficial to bring in a partner/advisor who has built residential assisted living facilities here in Texas and has been running them successfully.

Is my understanding correct? 

From my understanding, I need a Proof of Funds in order to get under contract. 

I'm sorry, I don't understand this post.

I am assuming this is in TEXAS (I am editing this as I thought I was in the Austin Fourm, I understand now that you might not be in Texas)  as each state has their own set of laws that property managers must follow.  

Market insights and understanding the rental rates in the neighborhood.

From my understanding, many require it be held in an entity name for compliance reasons. 

i understand that's very general and each is a case by case basis; we've viewed a couple of them.

Any recommendations of a good realtor who understands the needs of an out-of-state investor who works the Lorain area of OH would greatly be appreciated.