I've advised clients  with multi-families that if you show the bank that you are majority owner (articles of incorporation) they will likely acquiesce to the change. 

Buying physical assets is unlikely to lose principal unless you're over leveraged...To me, the control is more valuable with direct investments, passive investments are for later in my career.

I will tell you that the GC portion, if he is working physically on the jobs, scheduling subs, and project management, is much more physically and mentally demanding than the business side of the deal  (real estate/ marketing/legal).

For the purposes of this section, a tenant shall be deemed to have relinquished possession of the premises upon any of the following:(1) Execution of an order of possession in favor of the landlord.(2) If the tenant has physically vacated the premises, removal of substantially all personal property and the providing of a forwarding address or written notice stating that the tenant has vacated the premises.

I’m in the location I wish to invest in so I can physically look at the properties.

Find yourself a lawyer who specializes in corporate law ... a thorough operating agreement is a pretty boiler plate document.

Also, I will not be able to physically look at the house for at least the next two months so I can't confirm the state of the property although it appears to be in good condition from the pictures.

Best course, IMO, would be to buy one cash, then refinance it later if need be.Last thing to consider is the physical condition of these properties.

Is there a reason you need physical branches and if so what is it? 

Here is the opening paragraph of Bulletin 012:"Property Management means the physical, administrative or financial maintenance and management of real property, or the supervision of such activities for a fee, commission or other compensation or valuable consideration, pursuant to a property management agreement.