In the simplest terms a contract is nothing more than your offer and the buyer or sellers acceptance of that offer. 

A deal with the LC holder would probably be the simplest deal available if you can find one.

@Alan Faitel Here's where I don't fully agree - I feel that yes, a SFR is simple and if you only have one property, then a SFR is the simplest. 

My experience is that it is simplest to be a cash buyer to make it work, and that you should (obviously) know your market really well going in.  

Is this the simplest route?

But the simplest way to explain how I have done in that neighborhood is that I am seeing vacant houses sell now for higher than my all in costs used to be.

Welcome Jesse,One of the simplest ways is to google "(city) property management" and look at the companies that show up in the Google local listings.

I have stopped paying for clogged drains but because he is disabled he can not do even the simplest of fixes.

Deed of Trust will be the lien that you file at the courthouse which shows that you are the lender  Opening the line of equity part should be the simplest part, and the other parts, I recommend that you seek your trusted attorney’s counsel. 

So with 4 long term (local) rentals, and 2 short term (long distance) rentals - how would you set up the business(es) for the simplest and most effective accounting?