Even if it's in Vegas or Flordia it's still out of state and will require a property manager for the day-day operations.

Also, if I pay contractors using a credit card, am I still required to send them a 1099-NEC?

Our laws require us to offer a rental first come first served (first completed application that qualifies must be offered the unit).

Manufactured might get tricky on financing so I'd chat with a lender.

google "all inclusive Deed of Trust" fantastic CA document we used all the way back in the early 80s If I'm not mistaken though a wrap would require the 2nd buyer to also agree to financing terms; which would be the same as me (the 1st buyer). 

that isn’t subject to higher down payment requirements or higher interest.

Buyer's agency agreements were already required here before, our regulatory agency just went from strongly recommending them be signed right away but not really requiring them until writing a contract to 100% requiring them to be signed prior to showings.

Do have an idea of your preferred acquisition price and how much rehab might be required? 

Please correct me if I'm wrong.You can require them to have insurance, but you cannot require them to purchase from a specific policy provider.

Do you mean it would need an architect because that's required by the jurisdiction, or because the project itself would need an architect's expertise?