Are all units identical? 

It will be an identical home to the one I’m currently building, and I expect to need no more than $160K in financing.I’m not looking to overextend myself by taking on too much debt, but I want to make sure I’m approaching this in the right way. 

Late payments, property damage, and evictions are avoidable when you have a PM who knows how to find reliable renters.I encourage you to seek out a property management company that emphasizes tenant screening and uses modern tools for verification.

Be sure to do a thorough credit and background check, as well as a residence and employment verification. 

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

Additionally, a lender deposit ranging from $20,000 to $100,000 is necessary, along with a rate lock-in fee that typically amounts to 2% of the loan amountIn the process of raising equity, it's crucial to be diligent while filling out necessary forms and securing required verifications.

LLC offers better legal protection.3) Setting up in states that allow your identity to be hid is also overblown.

What they said.....everyone over the age of 18 has to have a background/credit/ ID verification and sign the lease.

Avoiding the occupants from squatting is best addressed with background checks, employment verifications, and references before signing the lease.

Start early, raise that equity well in advance, and make sure all those forms and verifications are filled out correctly.